Authorities in Ho Chi Minh City Arrested 36 People for Usurious Lending Disguised as Gold Rental Services.
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Ho Chi Minh City police have dismantled groups operating under the guise of gold leasing businesses to engage in usurious lending, prosecuting 36 people involved.
(Dan Tri Newspaper) - Individuals operating "loan sharking" schemes lend gold at interest rates exceeding 500% per year. Borrowers must pay interest daily and repay the equivalent amount of gold or cash upon maturity.
Ho Chi Minh City simultaneously inspected 8 locations, investigating groups of individuals operating under the guise of gold leasing businesses to engage in usurious lending; 36 individuals were prosecuted in connection with the case. Creating a "safety net" to protect workers from illegal lending; Loc Viet Card - A financial solution contributing to combating illegal lending in rural areas; Warning about "illegal lending" traps on the internet …
Ho Chi Minh City police have dismantled eight illegal lending operations disguised as businesses offering "gold rentals along with party dresses," charging exorbitant interest rates of over 500% per year, and have prosecuted 36 defendants.
Ho Chi Minh City police simultaneously inspected eight locations, investigating gangs operating under the guise of gold leasing businesses to engage in usurious lending. In some cases, interest rates exceeded 500% per year.
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