Borrowing 90 million from 'black credit', woman owes more than 10 billion
A woman borrowed 90 million VND from a loan shark with an interest rate of 2000%/year. After 2 years, the victim had to pay the creditor up to 10 billion VND.
The Criminal Police Department of Binh Duong Province Police said that this unit has just coordinated with Ben Cat Town Police to arrest Pham Ba Thuy (born in 1982, residing in Ben Cat Town) to investigate the act of lending at high interest rates in civil transactions.
According to the initial investigation of the police agency, since September 2020, Thuy has repeatedly lent money to Ms. PNT (born in 1985, residing in My Phuoc ward, Ben Cat town) with interest rates from 6-24%/day, equivalent to more than 2,000% to more than 8,000%/year. Thuy will collect interest according to the interest cycle of 5 days, 10 days or 1 month.
 |
| Pham Ba Thuy at the police station. Photo: CACC |
Initially, Ms. T borrowed 90 million VND from Thuy, but because she could not pay the interest on time, Thuy added it up to the loan amount. Up to now, Ms. T still owes Thuy more than 10 billion VND. The interest alone, so far, Thuy has collected from Ms. T is nearly 4 billion VND.
Searching Thuy's residence, the police seized 2 taels of gold, 1.75 billion VND (including 500 million VND of interest collected from Ms. T) and many documents related to loan sharking.