return icon Vietnamnet.vn

Member of biggest loan shark ring arrested

Police in the central province of Thanh Hoa, in co-ordination with HCM City police, have arrested a member of a loan shark ring in HCM City after being wanted for two years.

{keywords}
Dang Sy Phu, member of loan shark ring in HCM City, arrested after nearly two years of being wanted. — Photo courtesy of HCM City Police Department

Dang Sy Phu, 34, living in HCM City, was arrested on charges of "usury in civil transactions".

Phu's loan shark ring – Nam Long Finance Company, was busted by Thanh Hoa police in September 2018.

Twenty-one defendants were then prosecuted and sentenced to prison for crimes of intentionally causing injuries, illegally detaining people and lending of loans with high-interest rates in civil transactions.

The leader of the ring, Nguyen Duc Thanh, was sentenced to 10 years and six months in prison.

According to the police, from the end of 2017 to June 2018, Thanh and his accomplices had lent a total of VND32.6 billion to 95 customers across the country with interest rates from 182.5 per cent to 365 per cent per year.

Thanh's group made illegal profit of more than VND8.6 billion.

Thanh and his accomplices were also involved in intentionally causing injuries and illegally detaining people as they arrested and assaulted Nguyen Van Minh, the company's debt collector.

Minh was beaten until he lost consciousness and then he was taken to Thanh Hoa General Hospital. His colleagues left him at the hospital and he later died of his injuries.  VNS

99 years in prison granted to black credit gang in Thanh Hoa

99 years in prison granted to black credit gang in Thanh Hoa

The People's Court in Thanh Hoa Province has handed down a total jail sentence of 99 years to 21 people involved in a loan shark gang.

Five people arrested in HCM City loan shark apps bust worth $4.2 million

Five people arrested in HCM City loan shark apps bust worth $4.2 million

HCM City Police have broken up a payday loan ring headed by Chinese nationals, with some 60,000 debtors suffering cutthroat interest rates of 1,095 per cent per year.

MORE NEWS

Ministry listens to firms' difficulties, pledges to raise support

The Ministry of Planning and Investment will propose policies to remove obstacles for enterprises and enable them to seize opportunities to accelerate production and business, Minister Nguyen Chi Dung said.

Vietnam's e-government procurement system set to launch in August

The e-GP would allow effective and transparent management of the public procurement process.

VIETNAM BUSINESS NEWS JUNE 29

Newly-established businesses in H1 exceed 70,000

Australian Foreign Minister enjoys Pho ga in Hanoi

Australian Foreign Minister Penny Wong enjoys Hanoi's specialty of Pho ga or chicken noodles as she arrived in the city on her first visit to Vietnam.

Vietnamese ceramic artist sets two Guinness World Records

Two Vietnamese ceramic works will be recognised as having set Guinness World Records at a ceremony in Hanoi today (June 30).

VIETNAM NEWS HEADLINES JUNE 29

USAID assists Vietnamese businesses to reduce greenhouse gas emission

Vietnam Airlines plans to restore its entire flight network by the end of 2023

The restoration of international flight routes is an important condition for Vietnam Airlines to reduce losses and become profitable in the near future.

Saigon Zoo elephant dung used to make paper

A Saigon Zoo member of staff and a group of students are transforming elephant dung into paper.

Future of Hanoi’s 120-year-old Long Bien Bridge unclear

Long Bien Bridge, the iconic bridge across Hanoi’s Red River, has degraded, but no major repair plan has been finalized and its future is unclear.

Information & Communications Ministry works to create modern digital infrastructure

The Ministry of Information and Communications will exert efforts to create a modern and safe national digital infrastructure, and a new space for digital economic growth, and developing e-government towards the building of a digital government.

Vietnamese NA Chairman begins official visit to UK

National Assembly (NA) Chairman Vuong Dinh Hue arrived at Heathrow Airport in London on June 28 (local time), beginning his three-day official visit to the UK.

Vietnam to establish industrial environmental index

The Ministry of Planning and Investment (MPI) has called for the implementation of an industrial environmental index in Vietnam, according to Le Thanh Quan, head of MPI's department of economic zone management.

Rising costs cast doubt on wood companies growth prospects

As wood export turnover is rebounding with rising demand in the domestic market, the revenues of wood enterprises are expected to advance.

Vietnam’s GDP expands 7.72% in second quarter of 2022

Vietnam’s Gross Domestic Product (GDP) in the second quarter of this year was estimated to increase 7.72% year-on-year, higher than the growth rates in the same quarters during the 2011-2021 period.

Danish Crown Prince Couple to visit Vietnam in November

Wind energy and energy efficiency will be in focus during the visit, which will take place on November 1-2.
back_to_top