Pawn shop owner fined 50 million VND
(Baonghean.vn) - Pawn shop owner fined 50 million VND for lending at exorbitant interest rates.
On March 24, Tan Ky District People's Court tried the criminal case against Tran Dung Chi (born 1984), residing in Tan Phu commune (Tan Ky) for the crime of"Giveloan sharksin civil transactions".
According to the case file, from December 18, 2019 to December 29, 2020, Tran Dung Chi lent 4 people 228,000,000 VND, with an interest rate of 130 - 180%/year (6.5 to 9 times higher than the highest allowed interest rate and illegally profited a total of 58,156,277 VND).
Most recently, at around 10:00 a.m. on December 23, 2020, Mr. KVP and Mr. LVN (born in 1988), residing in Tan Huong commune (Tan Ky) went to Dung Chi pawn shop, pawned their motorbike to borrow 5,000,000 VND.,with interest rate of 4,000 VND/day/1 million VND.
While Tran Dung Chi was receiving money from KVP, the working group of Tan Ky District Police discovered him and issued an emergency search warrant at Tran Dung Chi's residence, seizing many related documents and evidence. Therefore, the Investigation Police Department of Tan Ky District Police detained him in an emergency and brought Tran Dung Chi to Tan Ky District Police headquarters for investigation.
At the investigation 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.
