police have issued a nationwide arrest warrant for a husband and wife who took
out nearly US$21 million in bank loans while putting up fake coffee beans as
the pair, Ho Minh Hau and his wife Pham Thi Ai Loan from Tan Binh District
against Ho Chi Minh City, had "appropriated property via a swindle," according
to a statement released last Wednesday.
Hanoi, HCMC, Binh Duong and several Mekong Delta provinces have all called for
the couple to be brought to court. Han and Loan had set up four firms and opened
representative offices around those localities. Their arrest warrant was issued
clue that a con had taken place came when the Hanoi-based Vietnam Russia Bank
couldn't contact Hau after he railed to repay loans on time. The bank, which
lent them nearly VND200 billion ($10.47 million), then tried to obtain the money
from several of Hau's different offices.
Loan said they had borrowed the more than VND100 billion from banks in Hanoi and
HCMC to buy produce for export. They mortgaged nearly 5,000 tons of coffee
beans, but only 1,000 of them were real and others were sand. The fake bags of
coffee beans were placed behind real ones at different stores. The couple also
benefited from a government stimulus package that allowed them to pay only
4-percent interest on some loans.
disappeared in December 2009.
say the duo did not work alone.
some bankers lending a hand, the trick would not have managed to fool so many
banks," a bank senior official in HCMC told Lao Dong. The official didn't
want to be named.