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Thanh Hóa police crack down on loan sharks

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Five people were arrested in the central city of Thanh Hóa on Wednesday for drug possession and offering loans at extremely high interest rates.

Police search Trường Cửu Company Ltd in the central city of Thanh Hóa. — Photo thuonghieuvaphapluat.vn

 

The arrest was made following a year-end crackdown on loan sharks by Thanh Hóa police, vov.vn reported.

The five defendants all worked at financial service firms. They are Cao Xuân Thu and Đỗ Nguyễn Minh Tân, 27, director and chief accountant at Đại Tín Financial Services Company Ltd; Lê Phú Lượng, 24, head of Trường Cửu Company Ltd’s branch in Sầm Sơn, and Đỗ Văn Thái, 35, manager of the company’s branch in Hoằng Hóa District; and Trương Đình Tâm, 20, a staff member at Thương Tín Financial Services Company Ltd.

Some VNĐ1.5 billion (US$64,700) as well as grenades, pepper spray, swords and knives were confiscated following the search of 32 offices belonging to several financial service companies in the city.

These companies had been offering loans at interest rates higher than 180 per cent per year.

About 7,000 citizens have borrowed some VNĐ74 billion ($3.2 million) from them since 2016.

 

Source: VNS

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