Vietnam’s Criminal Police Department under the Ministry of Public Security has broken up a major organized crime group involved in loan sharking, charging interest rates of up to 670% annually. The group advertised heavily on social media platforms, posing as pawnshops while operating with the structure and aggression of a criminal syndicate.

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The main suspects Nguyen Van Hai, Nguyen Ngoc Huong, Nguyen Van Quang, and Bui Van Hai. Photo: Criminal Police Department

On December 4, the department announced the prosecution of 28 individuals on various charges including illegal lending, unlawful detention, robbery, illegal gambling, and drug trafficking and use.

The ring, led by Nguyen Van Hai, Nguyen Van Quang, Bui Van Hai, and Nguyen Ngoc Huong, operated in a closed, tightly controlled network typical of mafia-style organizations. The gang was known for using weapons and violence to threaten borrowers and resolve disputes.

They divided operations by geographic areas across Ho Chi Minh City and several southern provinces. Loans were unsecured and offered at annual interest rates ranging from 240% to 670%.

To lure borrowers, the group ran ads through mobile apps and social media platforms like Facebook and Zalo. They also distributed flyers and relied on personal referrals, often under the guise of pawnshop services.

Once a borrower missed interest or principal payments, gang members would harass them and their family or colleagues with threatening messages and phone calls. In more extreme cases, they would throw waste substances at borrowers’ homes, resort to violence, and even hold victims against their will until debts were paid.

Despite operating in separate locations, the group maintained a tight-knit structure. Members shared clients, coordinated debt collection, and handled money transfers together.

The gang targeted small traders and business owners. Borrowers were required to have a permanent residence and place of work. Loan amounts ranged from approximately $200 to $60,000 per transaction. Required documentation included personal identification, address details, and a facial video for verification.

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The suspects in the loan shark ring were arrested by the Criminal Police Department. Photo: Criminal Police Department

They offered three types of loans:

Flat interest loans (daily interest payments until principal is repaid)

Installment loans (daily payment of both interest and part of the principal, usually over 24 days)

Advance-interest loans (interest deducted upfront, with the borrower receiving the remainder of the principal, for loan terms of 2–10 days)

Authorities said that in Ho Chi Minh City, Nguyen Ngoc Huong's subgroup not only offered illegal loans but also committed acts of kidnapping and robbery. When debtors failed to pay, enforcers were dispatched to intimidate, assault, and detain them while stealing valuables.

The Ministry of Public Security has filed criminal charges against all 28 suspects. Twenty-six of them have been taken into custody, including:

Nguyen Van Hai, Tran Thanh Hao, Nguyen Van Tho, Nguyen Dac Hoang, Nguyen Duy Khanh, Vu Dinh Son, Nguyen Van Quang, Trinh Van Dat, Trinh Van Luc, Le Dinh Dieu, Bui Van Hau, Phan Van Quyet, Pham Van Son, Nguyen Van Hung, Nguyen Ngoc Huong, Trinh Xuan Giang, Vu Van Duy, Vu Van Huy, Vu Dac Hai, Bui Manh Cuong, Tran Thi Diem Thuy, Bui Van Hai, Pham Vi Thai, Le Thi Ngoc Quyen, Le Van Mai Em, and Chuong Quy Huong.

The group faces charges of illegal lending in civil transactions, unlawful detention, robbery, organizing and participating in gambling, and the sale, storage, and use of illicit narcotics.

Dinh Hieu