Thua Thien Hue Provincial Police

On January 27th, the Thua Thien Hue Provincial Police announced that the Cyber ​​Security and High-Tech Crime Prevention Department, in coordination with the Criminal Police Department and other professional units, successfully dismantled a loan sharking ring with loans totaling 35 billion VND.

Authorities have arrested Luong Hoang Nhat Nam (28 years old, residing in Vy Da Ward) and Huynh Van Truong Phat (28 years old, residing in Thuan Hoa Ward, both in Hue City).

Luong Hoang Nhat Nam is suspected of being the ringleader of a lending ring charging interest rates of nearly 420% per year.

According to police records, since 2020, Nam and Phat have been advertising their lending activities on social media, promising low-interest loans, quick disbursement, no credit check required, maximum loan limits, and support for bad debt... However, when calculating interest, this group charged between 3 and 11.5 million VND per day, equivalent to interest rates of 109.5% - 419.75% per year.

Nam and Phat used software to manage loan contracts, calculate interest rates, and remind borrowers of payments; they also used the tactic of splitting the loan interest into two contracts and dividing the interest into various fees to evade detection by authorities.

Furthermore, during the lending process, if borrowers fail to repay on time, this group will hire people to threaten and stalk debtors, even going to their homes to demand payment.

During searches of two locations where Nam and Phat operated their lending business in Hue City, authorities discovered and seized one car, 39 computers, mobile phones, various cameras, numerous bank accounts, two boxes of GPS tracking devices, and some documents related to their lending activities.

According to initial investigations, from 2020 until their arrest, Nam and Phat had drawn up more than 2,000 loan contracts, lending money at exorbitant interest rates totaling 35 billion VND, and illegally profiting over 7 billion VND.

Source link: https://thanhnien.vn/cong-an-tinh-thua-thien-hue-triet-pha-duong-day-cho-vay-nang-lai-gan-420-nam-185240127114745437.htm