Nghe An police reward project to crack loan case with 'exorbitant' interest rates

Hai Phong gangsters come to Nghe An to lend money at 'exorbitant' interest rates

(Baonghean.vn) - Distributing flyers and posting online about loans without collateral and low interest rates, Thanh and Hai signed a loan contract with an installment interest rate of 180%/year, 9 times higher than the regulated interest rate.

On the afternoon of May 25, in Do Luong, the leaders of Nghe An Provincial Police held an award ceremony for Do Luong District Police for their outstanding achievements in the "Black Credit" crime project.

Attending were Colonel Nguyen Manh Hung - Deputy Director of Nghe An Provincial Police, Phung Thanh Vinh - Secretary of District Party Committee, Chairman of Do Luong District People's Committee.

In 2019, through the investigation, Do Luong District Police discovered a group of people from Hai Phong City who came to Do Luong suspected of operating loan sharking. During the verification process, the investigation agency determined that from 2019 to now, this group of people has changed their residence in the area 5 times. The subjects do not communicate with strangers, the loan transactions are mainly for those who are able to repay the debt and are weaker, the purpose is to make it easier to collect. The subjects do not register temporary residence, temporary absence and use fake names when communicating.

Nguyen Manh Hai and Bui Duy Thanh. Photo: Huu Hoan

In early May 2020, realizing that the subjects had many signs of activities (black credit), the district police established a special project 520L to focus on the fight. Using professional measures, at 1:00 p.m. on May 21, 2020, Do Luong District Police decided to solve the case. They searched the residence in Block 6 - Do Luong town and urgently arrested Nguyen Manh Hai (born 2000) and Bui Duy Thanh (born 1987). The seized exhibits included: 19 million VND, 2 loan contracts, 5 mobile phones and many other related documents.

After being arrested, the subjects confessed that since the beginning of 2019, these two subjects have lent money to more than 100 people in Do Luong, Thanh Chuong, and Anh Son districts with interest rates from 5,000 VND/million/day or more.

Through investigation, from 2019 to present, the subjects have lent about 5 billion VND, illegally profiting about 1 billion VND. After consolidating documents, Do Luong District Police worked with 15 borrowers in the area, determined the loan amount of 1 billion 151 million VND, thereby collecting 247 million VND in interest and illegally profiting 230 million VND.

Currently, the Investigation Police Agency of Do Luong District Police is temporarily detaining Nguyen Manh Hai and Bui Duy Thanh to investigate and clarify their loan sharking behavior for legal handling.

Colonel Nguyen Manh Hung - Deputy Director of Nghe An Provincial Police; Comrade Phung Thanh Vinh - Secretary of the District Party Committee, Chairman of the District People's Committee presented Certificates of Merit, bonuses and flowers to congratulate Do Luong District Police. Photo: Huu Hoan

In response to the excellent achievements of Do Luong District Police, Nghe An Provincial Police and Do Luong District People's Committee decided to award a Certificate of Merit and bonus to Do Luong District Police.