Arrest of a subject who just got out of prison and continued lending money at "exorbitant" interest rates in Bac Kan

On October 18, Bac Kan Provincial Police said that the Criminal Police Department coordinated with Ba Be District Police to inspect Dai Loi pawn shop in Cho Ra town, Ba Be district, Bac Kan province, owned by Vu Ngoc Duong (born in 1994, in Cho Ra town, Ba Be district, Bac Kan province).

Through inspection, the police discovered that suspect Duong had lent money, mortgaged assets and collected interest from people at interest rates of up to 7,000 VND/1 million/day. Searching his residence and workplace, the authorities seized many documents and exhibits related to this subject's loan sharking activities.

It is known that Vu Ngoc Duong has 2 previous convictions. In 2020, he was sentenced by the People's Court of Ba Be district to 12 months in prison for "property destruction"; in 2021, he was sentenced by the People's Court of Ba Be district to 7 months in prison for "loan sharking in civil transactions" and completed his sentence on April 28, 2022 and his criminal record has not yet been cleared.

Currently, Bac Kan Provincial Police have issued a decision to temporarily detain and issue an emergency arrest warrant for Vu Ngoc Duong for the act of lending at high interest rates in civil transactions to continue investigating and clarifying.