LookAtVietnam – Some 15 businesses have reported that they contacted the so-called Delaware Financial Company about borrowing money, but they never got loans.
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SBV said that the decision on the approval of the establishment of Delaware Financial Company with the signature of SBV’s Governor Nguyen Van Giau, shown by Delaware’s owners to businesses when negotiating credit contracts, was forged. |
Several days ago, local newspapers reported the warning by the State Bank of Vietnam (SBV) against borrowing from the ‘Delaware Financial Company’. The central bank then denied the legitimacy of the entity with this name, affirming that
Vietnam now has 17 financial companies,
Delaware not being among them.
SBV said that the decision on the approval of the establishment of Delaware Financial Company with the signature of SBV’s Governor Nguyen Van Giau, shown by Delaware’s owners to businesses when negotiating credit contracts, was forged.
Fifteen businesses have reported that they have lost money to Delaware.
Headmaster of an English teaching school in Vung Tau city said that under the credit contract signed between his school and Delaware, Dang Huy Hoang (Joseph Hoang), the ‘founder’ of Delaware, should have reimbursed the $10,000 his school gave as deposit for the loan on August 12. However, what the school headmaster got was just an idle promise from Hoang that he would pay in one or two days. On August 18, the headmaster, who had become impatient, tried to contact Hoang but could not reach him.
The other businesses also complained that since liquidating contracts with Delaware Vietnam (the businesses did not receive any money from Hoang and asked for contract liquidation and deposit reimbursement), they still had not got back their deposit money. They also cannot contact Hoang, since the mobile phone of the person has been ‘locked’.
The businesses were attracted by the promised low lending interest rates of 3.5-5 percent per annum, quick disbursement and long-term loan duration of 5-10 years. Especially, the businesses were told that the procedures for the loans would be very simple and quick.
All the businesses got the promise from Hoang that they would get loans worth from $2 million to $20 million.
Lawyer Truong Thi Hoa said that there are two scenarios now. In the first one, the two sides can negotiate on how to deal with the deposit money. In the second scenario, businesses can initiate legal proceedings against Delaware.
Governor of the State Bank of Vietnam Nguyen Van Giau told local newspaper VnExpress on August 18 that the State Bank had transferred the case to the police for investigation.
VietNamNet/VNE
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