Eliminate loan shark group with interest rate of 365%/year in Binh Duong

On October 21, the Criminal Police Department of Binh Duong Police coordinated with Thu Dau Mot City Police to dismantle a loan sharking ring in civil transactions led by Bui Van Cuong (born 1992, from Hai Phong City).

Bui Van Cuong at the police station (Photo: Provided by the police).

According to the initial investigation, since the beginning of the year, Bui Van Cuong and his wife Tran Thi Thom (born in 1996) along with Nguyen Van Kien (born in 1998), Hoang Xuan Hiep (born in 1995), Dao Quang Thiep (born in 1999), Nguyen Manh Sang (born in 1985, all from Hai Phong City) went to Thu Dau Mot City (Binh Duong) to operate "black credit" in the form of installment loans (interest rate from 0.7%/day) and standing loans (interest rate from 1%/day) equivalent to 243% to 365%/year.

During the investigation, the suspects confessed that they had lent money to many people in Thu Dau Mot City. Thereby, they illegally profited a total of about 290 million VND. The case was handed over to the Thu Dau Mot City Police Department for further investigation and clarification.

Source: https://dantri.com.vn/phap-luat/triet-xoa-nhom-cho-vay-lai-nang-365nam-o-binh-duong-20241021150704677.htm