Criminal detention of suspect for loan sharking at 30%/month interest rate

On March 21, the Investigation Police Agency of Vinh Long Province Police announced that it had just issued a decision to temporarily detain Nguyen Quoc Vuong (40 years old, residing in Hamlet 1, Ward 5, Vinh Long City, Vinh Long) to investigate the act of loan sharking.

Vĩnh Long: Tạm giữ hình sự nghi phạm cho vay nặng lãi 30%/tháng- Ảnh 1. — Nguyen Quoc Vuong at the time of his arrest

Previously, on March 12, the Criminal Police Department of Vinh Long Province Police coordinated with Vinh Long City Police and Ward 5 Police to catch Vuong red-handed receiving 10 million VND and writing a receipt from the borrower.

During a search of Vuong’s residence, the police seized many documents related to loan sharking. Initially, Vuong admitted to lending money at an interest rate of 30%/month.

The police have received many complaints from individuals about Vuong's behavior of lending at high interest rates in civil transactions; at the same time, they have clarified the amount of illegal profits from Vuong's lending at high interest rates of over 200 million VND. The police have notified anyone related to Vuong's behavior to come to the Vinh Long City Police Department to provide information to assist in the investigation. The case is being further investigated to be handled according to the provisions of law.

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