Henan farmers face millions in unauthorized loan debts

Eight farmers in Nanyang, Henan province, have discovered they are burdened with tens of millions of yuan in unauthorized loans and guarantee debts. The victims reported that their properties and vehicles have been seized.

One victim, a 55-year-old farmer, stated he was misled six years ago by a fellow villager into performing facial recognition and signing documents under the guise of ‘helping out.’ He subsequently discovered he had been registered as a corporate legal representative with two loans totaling 9.8 million yuan, plus a 5-million-yuan guarantee. Other affected individuals in the village face debts ranging from 4.95 million to 14.8 million yuan despite having no knowledge of corporate operations.

The Nanyang Wancheng District Rural Credit Cooperative Union responded by stating that all loan and guarantee procedures were conducted with the individuals' own signatures and were compliant with regulations. Local police have launched an investigation, and authorities have advised victims to file criminal cases to prove fraud.