Loan shark with terrible interest rate in Nghe An arrested

On November 17, Ky Son District Police successfully broke up a black credit case, arresting one subject for lending at high interest rates, with interest rates 9 times higher than the interest rate prescribed by the Civil Code.

Previously, according to information from the people, from January 2018 to present, in Huu Kiem commune, Ky Son district, there was a subject named Luong Van Tuan (born in 1986, residing in Dinh Son 1 village, Huu Kiem commune) who lent money to many people in Ky Son district.high interestmany times higher than the legal interest rate. Specifically, Luong Van Tuan lent money to others at an interest rate of 5,000 VND/ 1 million/ 1 day (ie 182%/1 year), in which the highest interest rate according to Article 468 of the 2015 Civil Code is 20%/1 year.

Subject Luong Van Tuan works with the police. Photo: An Binh

Immediately after receiving the report, Ky Son District Police established a working group to verify related issues; collect evidence, papers, and documents showing the long-term usury of Tuan, and at the same time issue an arrest warrant.

At the police investigation agency, Tuan confessed that from January 2018 to now, Tuan has lent money 33 times to 18 people in the area with a total loan amount of: 104 million VND, of which the total actual interest is: 38,850,000 VND; The amount of illegal profit from lending at high interest rates is: 34,888,371 VND.

Currently, the Investigation Police Agency of Ky Son District Police has issued a decision to initiate a criminal case and prosecute the defendant Luong Van Tuan for the crime of "Lending high interest rates in civil transactions".