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Catch the subject of ‘cutting the throat’ of the borrower with an interest rate of 451% per year

Only from February 2022 until now, Son has lent 344 million VND to 30 people in Hue city in the form of usury with interest rates from 282 to 451%/year.

On March 23, the Investigation Police Agency of Hue City Police (TT-Hue province) said that the unit had criminally detained Nguyen Xuan Son (SN 1997, hometown of Tho Xuan district, Thanh Hoa province) about usury behavior.

According to the police investigation results, around February 2022, Son moved from Thanh Hoa to Hue for the purpose of loan sharking.

Catch the subject of ‘cutting the throat’ of the borrower with an interest rate of 451% per year
Subject Son at the police station. Photo: Hue City Police

In TT-Hue province, subject Son printed leaflets for quick money loans and pasted them in public places. Those who need a loan, Son verifies the borrower’s whereabouts and lends from 3 million to 20 million dong each time. The cycle of borrowing and paying off principal and interest is from 25 to 30 days.

From February 2022 to the date of detention, subject Son lent money to 30 people with a total amount of VND 344 million, lending interest rates from 282 to 451%/year and obtained illegal profits of more than VND 51 million.

The Hue City Police also recommends that people should not borrow money through leaflets and advertisements for quick money loans, to avoid the situation that loans are easy to repay, difficult to repay, and debtors are heavily loaned. interest intimidation, mental terror.

Currently, the case is being investigated and clarified by the Hue City Police.

Quang Thanh

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