VietNamNet Bridge – The State Bank of Viet Nam (SBV) branch in the southern province of Dong Nai is inspecting the delay in paying interest and returning savings to clients of Thai Binh People’s Credit Fund in Tan Hoa Ward, Bien Hoa City.

A man holds a poster that says "Return me money" in front of Thai Binh People’s Credit Fund in southern province of Dong Nai. — Photo vov.vn

Tran Quoc Tuan, director of Dong Nai’s SBV branch, on Monday said the central bank is also inspecting the operation of the credit fund after some 82 locals reported they were unable to withdraw their money from the fund. They also said the fund had delayed paying them interest since the middle of last year.

They claimed they sent nearly VND50 billion (US$2.2 million) to the credit fund to get regular interest. As proof, they showed commitment papers signed by the fund manager, Vu Cong Liem, admitting that the fund was receiving money from its clients. However, the clients are not getting any money back in return.

The credit fund had reportedly committed violations and currently stopped operations. Its manager Liem had reportedly quit his job and is absconding.

Local police and SBV inspectors have joined in investigating the case. 

Source: VNS