On 3/9, the Criminal Investigation Department of Quang Tri Province Police announced the arrest of Pham Duy, Nguyen Van Dung, and Phan Viet Trung, all residing in Hanoi, for loan sharking.
The operation was led by Dung and Duy, both with prior criminal records.
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Pham Duy, one of the leaders of the loan sharking ring. Photo: Khoi Nguyen |
Pham Duy, one of the leaders of the loan sharking ring. Photo: Khoi Nguyen
Investigations revealed that from 2024 to 2025, the three men, along with Tran Tuan Vu and Duong Huu Phuc, ran a loan sharking operation targeting individuals in Quang Tri Province and Hue City. They charged annual interest rates ranging from 240% to 644%.
These rates are 12 to 31.2 times the maximum legal interest rate stipulated by the Civil Code.
Authorities allege the group transacted over 25 billion VND, earning over 10 billion VND in illegal profits.
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During the search of the suspects' residences, police seized two knives, two swords, and various related documents. Photo: Khoi Nguyen |
During the search of the suspects' residences, police seized two knives, two swords, and various related documents. Photo: Khoi Nguyen
At the rented accommodation of Vu and Trung in Nam Dong Ha Ward, police discovered 9 ecstasy pills in a wardrobe. Both individuals tested positive for drugs and were handed over to Nam Dong Ha Ward Police for further investigation into drug possession charges.
The investigation is ongoing.
Dac Thanh
