[SawbasyWrab]

Police in central Vietnam have rescued a banker from his kidnappers who had assaulted him and issued death threats to his family after he failed to repay a VN800 million (US$38,400) loan.

Phan Quang Lam, an Agribank employee in Bo Trach District, Quang Binh Province, has been admitted to the hospital.

Lam had borrowed VND800 million more than a year ago from a man called Viet at an interest rate of 2 percent a day, and loaned it to others at higher rates. He was supposed to return all the money last month, the Nguoi Lao Dong newspaper reported Sunday.

Viet came to Lam’s office along with his son and other men armed with electric whips and other weapons. They beat up Lam till he lost consciousness. Then they carried him to Viet’s house where he was tied and continued to be beaten, said Lam.

“They beat my head with an iron ball. Then they smashed my cell phone, and use their phones to force me to ask my wife and my parents to bring the money. Otherwise, they said, they would kill me,” the 29-year-old told news website VietNamNet.

His father Phan Van Tao said Viet kept calling and threatened to cut off Lam’s arms and legs if they did not come.

“I was afraid that they would kill my son, so I went there, but they also beat me up, locked me in the house and forced me to write a paper to give them my house for the loan, or they would kill us both,” the father said.

Lam’s sister was also beaten by the gang though she came with Bo Trach District police officers, and her motorbike taken.

Lam and his father were only rescued when the provincial police intervened.

Local police said they are investigating the case and could not comment on further developments.