Prosecution of loan sharks with interest rates up to 243%/year

(Dan Tri) - According to the police, Tran Thi Le has been lending money at high interest rates in Lao Cai city in two forms: loan sharking and standing loan, with interest rates ranging from 144 to 243% per year.

On the afternoon of December 27, Lao Cai Provincial Police announced that they had issued an order to prosecute Tran Thi Le (born in 1978, in Lao Cai City) for the crime of Loan sharking in civil transactions.

Police read the procedural decisions to Tran Thi Le (Photo: Provided by Police).

Initial investigation determined that Tran Thi Le had committed usury in Lao Cai city in two forms: loan sharking and standing loan, with interest rates ranging from 144 to 243% per year.

According to the police, from the beginning of 2023 until now, Tran Thi Le has lent money to more than 20 people with more than 100 loans, the loan amount is about 4 billion VND, illegally profiting over 400 million VND.

The investigation agency urgently searched the person, residence, and vehicle of Tran Thi Le; as a result, they discovered and temporarily seized 14 loan documents; a bundle of money including 60 bills of VND 500,000; two land use right certificates; a money delivery receipt dated January 20, 2014, a transfer receipt dated July 7, 2023; two mobile phones and many other documents related to the act of lending at high interest rates in civil transactions.

Source: https://dantri.com.vn/phap-luat/khoi-to-doi-tuong-cho-vay-lai-nang-toi-243nam-20241227145204324.htm