Vinh City police arrest suspect for usury.

Previously, through intelligence gathering, the Economic Police Team (Vinh City Police) discovered that Lo Thi Trang, residing in Block 16, Le Loi Ward (Vinh City), showed many signs of violating the law related to "loan sharking".

Taking advantage of the fact that some people needed to borrow money, Lo Thi Trang engaged in usurious lending practices in civil transactions, charging exorbitant interest rates.

When interest payments became due and borrowers were unable to pay on time or continue paying, Lo Thi Trang would frequently call to verbally abuse, pressure, and threaten them, forcing them to continue paying. Her actions caused public outrage and affected security and order in the area.

In response to this situation, the Economic Police Team of Vinh City Police Department established a special task force to combat the problem.

After a period of gathering documents and evidence, and implementing coordinated operational measures, at approximately 10:35 AM on May 27, 2024, the Economic Police Team (Vinh City Police) successfully cracked the case, arresting Lo Thi Trang for the crime of usury in civil transactions, as stipulated in Article 201 of the Penal Code; seizing numerous documents and materials related to usury.

At the police station, during the initial interrogation, suspect Lo Thi Trang confessed to engaging in usurious lending activities from the beginning of 2023 until now.

The suspect lent money to several individuals at interest rates ranging from 356% per year to 1216.67% per year (exceeding the maximum permitted interest rate by 26 to 80 times as stipulated in the 2015 Civil Code), with a total loan amount of nearly 1.5 billion VND, and illegally profiting over 500 million VND.

Currently, the Criminal Investigation Agency of Vinh City Police has placed Lo Thi Trang under temporary detention and is continuing to investigate and expand the case.