Villager fined 60 million VND for lending at high interest rates
(Baonghean.vn) - Lending money to others at interest rates 9.1 to 18.2 times higher than the highest interest rate prescribed (20%/year), Luong Van Tuan, born in 1986, residing in Huu Kiem commune (Ky Son) was sentenced to a fine of 60 million VND at the trial held on the morning of August 20, 2021.
According to the indictment, from January 2018 to September 2020, Luong Van Tuan, residing in Dinh Son 1 village, Huu Kiem commune, lent money to 19 people in Ky Son district 34 times, with a total loan amount of 104,000,000 VND, with interest rates ranging from 5,000 VND/1,000,000 VND/day to 10,000 VND/1,000,000 VND/day, equivalent to 182.5%/year to 365%/year.
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| Defendant Luong Van Tuan. Photo: HT |
The interest rate that Luong Van Tuan charged to borrowers was 9.1 to 18.2 times higher than the current rate.high interest rateshighest interest rate as prescribed by the 2015 Civil Code (20%/year). All civil transactions are recorded by Luong Van Tuan in 03 personal notebooks for monitoring.
By lending at high interest rates during the above period, Luong Van Tuan earned an interest of VND 38,850,000 (of which the illegal interest was VND 34,888,371).
In addition to the main penalty of 60 million VND, Tuan was also ordered to pay back more than 105 million VND to the State budget and forced to return to the people the illegally obtained money.
