Pawnshop owner fined 50 million VND.

On March 24th, the People's Court of Tan Ky District tried the criminal case against Tran Dung Chi (born in 1984), residing in Tan Phu commune (Tan Ky district), for the crime of..."Givehigh-interest loansin civil transactions.

According to the case file, from December 18, 2019 to December 29, 2020, Tran Dung Chi lent 228,000,000 VND to four people, with interest rates ranging from 130% to 180% per year (6.5 to 9 times higher than the maximum permitted interest rate) and illegally profited a total of 58,156,277 VND.

Most recently, at approximately 10:00 AM on December 23, 2020, Mr. KVP, along with Mr. LVN (born in 1988), residing in Tan Huong commune (Tan Ky district), went to Dung Chi pawn shop to pawn their motorbike and borrow 5,000,000 VND.,with an interest rate of 4,000 VND/day/1 million VND.

While Tran Dung Chi was receiving money from KVP, he was discovered by a task force from the Tan Ky District Police. An emergency search warrant was issued for Tran Dung Chi's residence, resulting in the seizure of numerous related documents and evidence. Therefore, the Tan Ky District Police Investigation Department proceeded to detain him under emergency circumstances and brought Tran Dung Chi to the Tan Ky District Police headquarters for further investigation.

At the investigative agency, Tran Dung Chi confessed to all his crimes. At the end of the trial, the panel of judges sentenced Tran Dung Chi to a fine of 50 million VND.