Prosecuted 60-year-old woman lending at interest rates of 144%/year
(Baonghean.vn) - The 60-year-old woman prosecuted by the Nam Dan District Police, Nghe An Province for loan sharking with interest rates of 144%/year is Phan Thi Ha.
The Investigation Police Agency, Nam Dan District Police (Nghe An) said: The unit has just initiated a case and prosecuted Phan Thi Ha (born in 1960), residing in Phan Boi Chau block, Nam Dan town, for the crime of "Lending at high interest rates in civil transactions", stipulated in Article 201 of the Penal Code. Currently, the Investigation Police Agency, Nam Dan District Police are applying the measure of prohibiting Phan Thi Ha from leaving her place of residence (due to her health).
Previously, at around 11:00 a.m. on November 6, 2019, Nam Dan District Police discovered and caught Phan Thi Ha red-handed while transacting and collecting interest from Ms. Nguyen Thi V. (born in 1982), residing in Nam Linh Commune, Nam Dan District, an amount of VND 25,200,000. Conducting an emergency search of Phan Thi Ha's residence, the District Police seized a number of documents related to Phan Thi Ha's loan sharking.
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| Subject Phan Thi Ha. Photo: Bao Nguyen |
At the police station, Phan Thi Ha initially confessed to her crime. Accordingly, on the afternoon of October 10, 2018, Ms. Nguyen Thi V. came to Phan Thi Ha's house to borrow 70 million VND. Phan Thi Ha agreed but with the condition that the interest rate was 4 thousand VND/1 million VND/day (meaning, Ms. V. had to pay Ms. Ha 8.4 million VND in interest per month).
Both parties agreed that the interest would be calculated monthly, and the interest would be paid on the 2nd day of each lunar month. When borrowing money, Phan Thi Ha wrote a contract for Ms. V. (Ms. V. signed) showing that she had borrowed the above amount. From October 10, 2018 to August 2, 2019, Ms. V. paid Phan Thi Ha 10 months of interest in the amount of 84 million VND.
Thus, the amount of 70 million VND that Ms. Nguyen Thi V. borrowed from Phan Thi Ha with an interest rate of 4,000 VND/1 million VND/1 day (ie 144%/year, 5 times higher than the highest interest rate in the Civil Code). Accordingly, with the loan amount of 70 million VND in 10 months, Phan Thi Ha illegally profited more than 72 million VND (calculated according to the legal interest rate stipulated in Article 468, Civil Code 2015).
Currently, the Investigation Police Agency, Nam Dan District Police are continuing to investigate and expand the case.
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