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Tan Binh police busted a black credit ring lending at interest rates over 300%/year

VTC NewsVTC News28/05/2023


On May 28, the Investigation Police Agency of Tan Binh District Police initiated a case and temporarily detained Trinh Xuan Tuan (born in 1982, from Thai Nguyen) for lending money at high interest rates in civil transactions.

Initial information, at 5:00 p.m. on May 6, a patrol team of the Criminal Police Team, Tan Binh District Police, was on duty in the area, administratively checking Trinh Xuan Tuan. After a quick fight, Tuan confessed that he was collecting contributions, the detectives discovered many messages on Tuan's phone related to high-interest loan activities.

Ho Chi Minh City: Tan Binh police busted a black credit ring lending at interest rates of over 300%/year - 1

Trinh Xuan Tuan at the investigation agency. (Photo: Ho Chi Minh City Police)

The police then took Tuan to the Ward 10 Police Station (Tan Binh District) for questioning. Tuan confessed that he was working as a "throwing" money collector with Vu Tung Lam (born in 1993, from Lao Cai) and Vu Dinh Hung (born in 1995, from Hai Phong). All three were renting a house on Provincial Road 10 (Binh Tri Dong B Ward, Binh Tan District).

Trinh Xuan Tuan was hired by Nguyen Dac Hieu (born in 1982, from Hai Phong) and paid 8 million VND per month. Tuan's task was to find customers and lend money at interest.

In addition, Tuan had to personally post advertisements with the content: Loan without documents, no mortgage in Tan Binh, Binh Tan and District 6. Customers in need would directly call the phone number 0906.807.6xx to meet Hieu. Hieu would then assign Tuan to go to the scene to verify and "disburse".

To “expand” the scale of lending, Hieu asked Tuan to recruit more “colleagues” Vu Tung Lam and Vu Dinh Hung. Lam and Hung’s tasks were to join Tuan in lending money to customers and collect installment payments for Tuan every day with a salary of 8 million VND/month.

Ho Chi Minh City: Tan Binh police busted a black credit ring lending at interest rates of over 300%/year - 2

Confiscated exhibits. (Photo: Ho Chi Minh City Police)

In addition, Tuan, Hung and Lam's group will receive more flyers sent by Hieu via social networks, then print and paste them on electric poles and walls of houses in districts in Ho Chi Minh City to advertise the loan.

This group lent 469 million VND to 23 customers, illegally earning more than 104 million VND. Of these, Lam participated in lending to 8 customers and collecting daily contributions of 162 million VND, illegally earning more than 39 million VND.

Hung lent 10 million VND to one customer and illegally earned more than 1.5 million VND. In addition to these 23 customers, this loan sharking ring lent to several other customers, but the borrowers' information is still being verified.

The investigation agency determined that Tuan lent money at an interest rate of over 304% per year and illegally profited over 100 million VND.

Currently, Tan Binh District Police have initiated a criminal case, prosecuted the accused and temporarily detained Trinh Xuan Tuan. As for Vu Tung Lam, he is currently on bail by his family and is continuing to collect evidence to serve the investigation.

Hieu and Hung have fled, the police are actively searching for information about these two people.

Hoang Tho


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