Loan sharking at 360%/year interest rate, man arrested for forcing 'debtor' to sign paper
In a short time, by lending at high interest rates, Hoang illegally earned hundreds of millions of dong. When the "debtor" was unable to pay, the subject forced him to sign a loan document.
The Investigation Police Agency of Binh Thuan Province has just announced that it is temporarily detaining Diep Van Hoang (57 years old, residing in Xuan An Ward, Phan Thiet City) to investigate the act of lending at high interest rates in civil transactions.
At the same time, an order was issued to prohibit the debt collector Ngo Thi Bao Ngoc from leaving her place of residence to clarify her actions.Extortion.
According to the initial investigation, from November 2024 to February 2025, Hoang lent Ms. NTL (61 years old) many times with a total amount of about 1 billion VND, interest rate of 30%/month (equivalent to 360%/year).
Later, because Ms. L. could no longer pay, Hoang proactively lowered the interest rate to 20%/month. However, Ms. L. still failed to pay, so Hoang came up with the idea of pressuring the victim to pay.
On April 12, Hoang and Ngo Thi Bao Ngoc went to Ms. L's house to demand money. There, the two subjects loudly forced the victim to sign a debt paper with a total amount of 1.3 billion VND (including 1 billion VND in principal and 300 million VND in interest).
When the two had just left, they were discovered by the police and taken to the police station.
Initially, the investigation agency determined that Hoang had illegally profited hundreds of millions of dong in a short period of time through the above loan sharking activities.
