Nghe An: Dismantling a loan sharking ring disguised as a business with over 500 billion VND

In early June 2021, through reconnaissance work and the use of many professional measures, the Vinh City Police Investigation Agency identified 4 groups of subjects with suspicious signs of criminal activities of loan sharking in civil transactions in the area. Under the direction of the Provincial Police leadership, a special project was quickly established to combat.

Police conducted a search at a financial services company.

After a period of actively verifying and grasping information, the Task Force quickly identified 4 groups of subjects showing signs of activities forloan sharksin civil transactions, including:

The group of subjects was led by Nguyen Thai Hoc (born in 1970), residing at 45, An Duong Vuong, Vinh City; The group of subjects was led by Bui Van Kien (born in 1989), residing at Mai Loc, Hung Loc, Vinh City; The group of subjects of Duc Tri Company Limited was led by Vu Khac Thanh (born in 1991), residing at Vinh Tan Ward, Vinh City.

The group of subjects of Nhat Tin Company Limited was led by Phan Trong Hung (born in 1978), residing in Trung Do Ward, Vinh City; Le Hong Trung (born in 1987), residing in Truong Han Sieu, Vinh City; Vu Thanh Cong (born in 1995), residing at 175 Pham Hong Thai, Vinh City and Nguyen The Duc (born in 1988), residing in Cat Van, Thanh Chuong District.

Some evidence was seized by authorities at the scene.

These groups have dozens of establishments and branches in many places in Nghe An and other provinces. In Nghe An province alone, the establishments of the above groups are present in 11 districts, cities and towns. In Ha Tinh, there are 8 establishments, in addition to other establishments in Kon Tum, Quang Binh, Nha Trang...

These establishments operate in the form of lending to individuals and businesses at interest rates of 3,000 VND - 8,000 VND/1 million/1 day and require borrowers to write mortgage papers, or mortgage assets (motorbikes, cars, land titles...) at interest rates of 2,000 VND - 4,000 VND/1 million/1 day. Tens of thousands of people across the country have borrowed money from these establishments, the estimated amount is up to more than 500 billion VND.

Some of the vehicles were seized by the authorities.

In case the borrower does not pay interest as required or does not pay on time, this group of subjects will continuously use threats and intimidation.

After consolidating the documents, on July 11, 2021, Vinh City Police coordinated with Ha Tinh Provincial Police, professional departments and police of Dien Chau, Yen Thanh districts, Cua Lo town, Quynh Luu, Hoang Mai, Quy Hop, Nam Dan, Tan Ky, Do Luong... to simultaneously search 35 establishments which are financial companies, pawn services of the above 4 groups, arresting 44 subjects. At the scene, the police seized many related vehicles, documents and exhibits.

Subjects at the police station.

At the police station, the suspects initially confessed to their crimes. It is known that this is the biggest "black credit" case ever discovered and arrested by the authorities.

Currently, the case is continuing to consolidate records and documents to investigate, expand the case and handle according to the provisions of law./.