Arrested 'black credit' group in Nghe An lending at interest rate of 3,600%/year

The Criminal Police Department of Nghe An Province has just dismantled an extremely daring and reckless "black credit" gang in Vinh City.

At the end of 2019, the police discovered a "black credit" gang run byNguyen Trong Duong (born in 1989, residing in block 11, Truong Thi ward, Vinh city) runs it. Duong is a notorious criminal, very stubborn and reckless.

Subject Nguyen Trong Duong. Photo: Subject's Facebook

Disguised as a financial support business, Duong distributed advertising flyers and used social networks to post information about loans and financial support with quick procedures and no collateral required. Duong organized loans and financial support with high interest rates from 4,000 VND - 100,000 VND/1 million/day, equivalent to 144% to 3,600%/year.

Duong has about 30 trusted followers, all of whom are gangsters. Duong orders his followers to remain silent if they are discovered or arrested and not to reveal any information. On his personal page, Duong regularly posts pictures of himself and his gang to promote his reputation and gain prestige in the gangster world.

In addition to Nguyen Trong Duong, the operator of this network is also Bui Nu Ngoc Anh (born in 1990, residing in Duc Thinh hamlet, Hung Loc commune, Vinh city). Although she is a woman, Ngoc Anh is equally wicked and is Duong's "right-hand man".

A victim's loan papers. Photo: Anh Quan

Due to personal needs, many victims agreed to come to Duong to borrow money at exorbitant interest rates. Due to the high interest rates, many people lost their ability to pay.

For debtors who have not paid their debts by the due date, Duong will send his men to their homes to threaten and intimidate them. Not stopping there, Duong also has his men print the subjects' pictures on flyers with threats to send to the debtors' families and workplaces for a long time.

With their recklessness and daring, Duong's gang was a terror to debtors. Many debtors, unable to pay and afraid of being harmed, had to sell their houses to pay off their debts or leave the country for long periods of time.

During the investigation, the police encountered many difficulties because Duong had many cunning and cunning tricks. He often changed his phone number and residence to avoid detection by the police. On the other hand, the victims, fearing retaliation, did not cooperate with the police.

This group also printed pictures of the victims and posted them everywhere. Photo: Anh Quan

After nearly 3 months of investigation, by the end of February 2020, the Special Investigation Committee urgently arrested and searched the residences of Nguyen Trong Duong and Bui Nu Ngoc Anh.

During the search, the police seized many important pieces of evidence including 31 loan papers, 5 mobile phones, more than 200 leaflets with pictures of debtors, over 700 million VND in cash and bank cards, of which 300 million VND was Duong's illegal profits from loan sharking activities.

Currently, the Investigation Committee is continuing to investigate and clarify the roles of the subjects in this network.