Arrest of loan shark in Que Phong

Que Phong District Police (Nghe An) said they have just investigated and clarified a subject in the area who committed usury in civil transactions.

Documents related to Mr. Duc's loan sharking. Photo:Quynh Trang

Previously, through the work of managing the area, Que Phong District Police discovered that Ho Sy Duc (born in 1959, residing in Na Toc village, Muong Noc commune, Que Phong district) had signs of suspicious activities of lending money at high interest rates in civil transactions. Realizing the need for loans of poor people, with quick loan procedures, Ho Sy Duc included in the loan documents the terms of assigning and redeeming property with very high interest rates.

Based on collected documents and evidence, on May 22, 2021, Que Phong District Police conductedemergency arrestHo Sy Duc for lending money at high interest rates in civil transactions. Searching the suspect's residence, the police discovered and seized 74 loan contracts with a total amount of more than 1 billion VND and many documents related to the lending. During the investigation, the district police initially determined that Ho Sy Duc lent money to 74 people at an interest rate of 8%/month to 10%/month, with the amount of illegal profits amounting to more than 100 million VND.

Subject Ho Sy Duc at the police station. Photo:Quynh Trang

Through the above incident, the police agency informs and requests that anyone who is a victim of the above loan shark contact the Que Phong District Police (via phone number: 02383.885.183) to coordinate the resolution.

Currently, the District Police Investigation Agency is continuing to investigate and clarify.