Lending money at 360% annual interest rate, man caught red-handed receiving money

(Dan Tri) - Tuan lent Mr. H. 130 million VND from 2022, interest rate 30%/month, equivalent to 360%/year.

On January 9, Vinh Long City Police (Vinh Long Province) announced that the Investigation Police Agency, Vinh Long City Police had detained Nguyen Thanh Tuan (44 years old) for 2 months to investigate the act of lending at high interest rates in civil transactions.

Defendant Nguyen Thanh Tuan (Photo: Contributor).

At 8:40 a.m. on December 26, 2024, the Criminal Police Department, Provincial Police caught Tuan red-handed going to Mr. PTH's iron shop on Pham Hung Street to receive the principal and interest from Mr. H. in the amount of 10.5 million VND. While receiving the money, Tuan was arrested by the police.

Through questioning, the subject confessed to lending Mr. H. 130 million VND from 2022 with an interest rate of 30%/month, equivalent to 360%/year.

The police determined that Tuan illegally profited from lending money in the amount of over 335 million VND.

Source: https://dantri.com.vn/phap-luat/cho-vay-lai-nang-360nam-ga-dan-ong-bi-bat-qua-tang-khi-nhan-tien-20250109113332199.htm