HCMC police raid Home Credit office

At least four cars brought hundreds of officers to a building on Nguyen Dang Gia Street of Thu Duc City, the headquarters of Home Credit Vietnam. A source told VnExpress that the police have had exchanges with leaders and employees of the company, while checking certain financial and loan activities at the company.

At the same time, police forces also barricaded and raided the Galaxy debt trading company on D1 Street. All employees at the company were requested to stop working for an investigation.

HCMC police have yet to give an official announcement on what they are investigating the two companies for.

Home Credit Vietnam, which has been operating in the country since 2008, offers financial services, including installment payments. The company is headquartered in HCMC, with branches and representative offices in Hanoi and other localities.

Police forces have been busting several cases of debt collecting organizations posing as law and financial firms lately. Authorities said hundreds of thousands of people had been threatened by these organizations, being forced to pay back debts.

Police said these groups utilized the Internet to terrorize people, not just debtors but also their family, friends and colleagues.