Prosecution of 'big sister' who lent money at interest rates up to 146%/year

Previously, Vinh City Police received a complaint from Mr. VQTh. (born in 1987), residing in Ho Chi Minh City, about Ms. Nguyen Thi Phuong Thoa (born in 1984), residing in Block 3, Cua Nam Ward, Vinh City, lending him money at high interest rates.

Upon receiving the information, Vinh City Police quickly took action to verify, investigate, and clarify. To deceive the authorities, Nguyen Thi Phuong Thoa discussed and agreed with Mr. Th. about Mr. Th. borrowing money through transactions on the phone and social networks.

To concentrate forces and means to fight and clarify, the leaders of Vinh City Police have directed the Criminal Police Teamestablish a project.

After a period of applying a combination of professional measures, on December 15, 2023, Vinh City Police successfully broke the case, issued an Emergency Detention Order against Nguyen Thi Phuong Thoa for the act of lending at high interest rates in civil transactions; seized a number of documents and books related to the subject's criminal acts.

At the investigation agency, Nguyen Thi Phuong Thoa confessed to her illegal acts. Accordingly, because they knew each other before, when she knew that Mr. Th. needed money, from March 2020 until now, Thoa has continuously lent Th. an amount of 80 million VND with the condition of "high interest rates" of 3,000 VND/1 million VND/day to 4,000 VND/1 million VND/day (from 109.5%/year to 146%/year), while, according to the provisions of law, lending money in civil transactions does not exceed 20%/year. With the above interest rate, the total amount that Nguyen Thi Phuong Thoa illegally profited from lending to Mr. Th. is 193,083,333 VND.

Currently, Vinh City Police are completing the case file to handle the subject according to the provisions of law.