Breaking down the black credit group with usury loans up to 219%/year in Quang Ninh

Recently, the Criminal Police Department of Quang Ninh Provincial Police has just broken the project and arrested a group of "black credit" activities, benefiting more than 18 billion VND in Ha Long city.

The group of subjects arrested include: Tran Van Ngoc, SN 1993; Vu Van Phong, SN 1984; Hoang Van Phuong, SN 1978; Do Van Canh, SN 1985; Ngo Huynh Thu, SN 1988; Do Quoc Hung, born 1996 all reside in Thong Nhat commune, Ha Long city, Quang Ninh.

Initial investigation results determined that from 2019 until now, the subjects used the Internet through the management website 2Cash.pro to manage and operate black credit lending activities.

Up to now, the subjects have given about 2,200 loans with interest from 3,000 - 6,000 VND/million/day, equivalent to 109.5 %/year - 219%/year. The total amount of money used by the subjects to lend is about 81 billion VND, about 18.5 billion VND for illicit benefits.

More dangerously, this group is all subjects with previous criminal records, for acts such as "Disturbing public order", "Theft of property", "Intentionally causing injury". Notably, there are subjects with up to 3 previous convictions.

According to Senior Lieutenant Colonel Tran Duc Dung - Head of the Criminal Police Department, Quang Ninh Provincial Police, these subjects are loan sharks in the context of complicated developments of the COVID-19 epidemic and people's lives facing many difficulties.

"The subjects who commit the act of loan sharking are the cause of other dangerous crimes such as robbery, intentionally causing injury, etc., if they are not fought and dismantled in time," said Senior Lieutenant Colonel Tran Duc Dung.

Also today, Ha Dong District Police (Hanoi) has also removed the "black credit" group that lends heavy interest in the form of "unloading", operating on social networks with transaction amounts of up to billions of dong.

Accordingly, the Investigative Police Agency of the District Public Security issued a decision on criminal detention for Phung Van Huy (SN 1989, HKTT in Son Tay town, Hanoi); Do Tien Thanh (SN 2000, in Hong Thai commune, Phu Xuyen, Hanoi) to investigate the act of lending heavy interest in civil transactions, as prescribed in Article 201 of the Penal Code.

Through grasping the local situation, identified subjects Huy (with 1 previous conviction for property theft related to "black credit" activities) and Thanh temporarily residing in Dai Thanh, (Thanh Tri, Hanoi), and a number of other subjects with financial business (loan in the form of "loaning them" with high interest rates) operating in Ha Dong district and many other Hanoi cities and districts in the area.

According to the commander of Ha Dong District Police, the operation tricks of this group are very sophisticated. The subjects did not use a fixed location, did not place pawn signs or did financial business in the traditional way, but used the Internet to set up virtual accounts on the network to post loan ads for customers to contact in cyberspace. Therefore, during the investigation, as long as one object is detected, the remaining objects will immediately delete the data and destroy the evidence of the whole group.

Based on the collected reconnaissance documents, on July 17, the working groups of the district police simultaneously launched their troops to urgently search the residences of the two main subjects, Phung Van Huy and Do Tien Thanh, in Dai Thanh, Thanh Tri, Hanoi.

From the documents collected by the project committee and the testimonies of the subjects, it is shown that this group has a rather long period of financial business operations, in the form of loans "picking them up" at the rate of 10 to 8, cutting interest first, paying within 50 days (borrowers of 10 million dong will receive 8 million dong, cutting interest in advance of 2 million dong); Loan interest rate 146%/year.

In order to organize criminal activities, the subjects discussed and assigned tasks at each stage, such as advertising - exploiting people who need to borrow money, checking borrower information, doing procedures for lending money and reminding customers to pay money daily. Along with that, Huy and Thanh use social networks and applications on the internet... to manage borrowers.

The investigative agency also determined that in the period from October 2022 to July 2023, this group of subjects gave loans to many customers in many districts, towns and cities such as Ha Dong, Chuong My, Thanh Oai, Thanh Tri, etc. with a transaction amount of up to billions of dong.

Currently, Quang Ninh Provincial Police and Ha Dong District Police are continuing to investigate and expand the case.

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