The Ha Tinh Police Department has successfully dismantled a loan shark ring that conducted transactions exceeding 82 billion VND (around $3.5 million). The operation involved three individuals who engaged in lending practices with interest rates significantly higher than the legal limits, impacting local financial security.

According to initial investigations, the group, consisting of Nguyen Van Dung (born 1971), Nguyen Thi Thuy (born 1982), and Nguyen Thi Tuyet (born 1964), facilitated hundreds of loans without requiring collateral, making the process appealing to borrowers. However, the interest rates charged were reportedly more than five times the maximum allowed by law.

To avoid detection, the suspects primarily lent money through acquaintances or referrals from previous borrowers, limiting interactions with unfamiliar clients. Payments were often demanded in cash or through intermediaries, and when bank transfers were made, borrowers were instructed to omit any mention of principal or interest to obscure the nature of the transactions.

Recognizing the long-standing and organized nature of this loan sharking activity, the Criminal Investigation Department of Ha Tinh implemented a series of coordinated measures to gather evidence and clarify the roles of each suspect. The investigation revealed that Nguyen Van Dung and Nguyen Thi Thuy had each conducted 330 lending transactions, while Nguyen Thi Tuyet had executed over 500, resulting in substantial illegal profits.

On July 25, the authorities officially charged the suspects with the crime of “Loan Sharking in Civil Transactions” under Article 201 of the Penal Code. Nguyen Van Dung has been placed in temporary detention, while Nguyen Thi Thuy and Nguyen Thi Tuyet are under residence restrictions as investigations continue. The police are working to compile additional evidence to ensure strict legal action against all involved.