Illegal online lending company crushed

September 27, 2019

NATIONAL Capital Region Police Office director, Major General Guillermo Lorenzo T. Eleazar, yesterday said they have smashed an illegal online lending company in Ortigas Center in Pasig City which has gained notoriety for harassing and insulting thousands of clients in Metro Manila and other parts of the country as soon as they fail to pay their debts.

On the strength of a search warrant issued by a local court, the official said that members of the NCRPO Regional Special Operations Unit raided the office of the Fuewi Lending Corporation at Unit 2204 of Raffles Tower, Garnet Street, Emerald Avenue, Ortigas Center in Pasig City.

Eleazar said that they were allowed by the court to seize and examine the computer data of the lending corporation which is known for using a mobile software application to ‘insult, threaten, harass and embarrass’ those who owe them money.

The NCRPO chief said that they have discovered that the lending company allegedly charges ‘sky high’ interest rates on their clients. As soon as their borrowers fail to pay them, employees of the company will access the contact information and other data including photographs provided by their targets.

“Those information will be later used by the company to insult, threaten, harass and embarrass their targets in order to force them to pay,” said Eleazar.

According to the official, the online lending scam has victimized thousands of Filipinos already as they are offering ‘quick loans,’ the lowest of which is P2,000.