The Police investigation agency of Binh Thanh district, Ho Chi Minh city has decided to prosecute and temporarily detain a group of people, Vietnamese detective agency.
Those arrested were: Dang Thi Hoa, To Ba Nguyen, Mai Thi My Lynh, and Ha Quoc Huy on charges of lending at high interest rates in civil transactions.
Vietnam detective service agency – Authorities also determined that Huy had committed property theft.
According to the investigation, the group lent money to patients at exorbitant interest rates.
Borrowers must mortgage their Citizen Identification Card, Identity Card, Household Registration Book and sign the loan document.
This group lends a minimum of 500,000 VND to 60 million VND/month with an interest rate of 30%.
Borrowers must pay a service fee of 10% of the total loan amount and pay a deposit and interest on the first day.
Hoa and Nguyen were hired to collect debt with a salary of 9 million VND/month.
Hoa’s group lent money to 22 people with interest rates ranging from 360% to 720%/year, 18 to 36 times higher than the highest interest rate according to regulations.
Huy and Lynh’s group lent money to others at interest rates from 120% to 730%/year, exceeding the highest interest rate prescribed by the State from 6 to 36.5 times.
Huy sent text messages to threaten and terrorize the borrower, bringing weapons to the borrower’s home and workplace to demand money.
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