Arrest of loan shark group with interest rate of 644% per year

In Quang Tri, the Criminal police have just dismantled a large loan sharking ring, operating from 2024 to 2025.

The ring was led by Pham Duy, Nguyen Van Dung and Phan Viet Trung, along with Tran Tuan Vu and Duong Huu Phuc.

This group lent money to people at interest rates ranging from 240% to 644%/year, 12-31 times higher than the regulations.

Vietnam detective service, this group disbursed over 25 billion VND, illegally profiting more than 10 billion VND.

The loans were advertised as fast and easy to access, but the interest rates were dozens of times higher than the regulations of law in Vietnam.

Searching the residence and lodging, the police seized 10 phones, 2 computers, many loan documents, along with 2 knives and 2 swords.

At Vu and Trung’s residence, the authorities discovered 9 ecstasy pills; The rapid test results showed that both were positive for drugs.

Nam Dong Ha Ward Police continue to investigate the possession of prohibited substances by these subjects.

The case is being expanded, clarifying the subjects’ actions, Vietnam detective service agency.

Private detective agency in Vietnam https://vietnamdetectives.com