Ho Chi Minh City police dismantle black credit ring

black credit usury Ho Chi Minh City loan sharking financial crime

Ho Chi Minh City police have prosecuted 36 individuals for usury in civil transactions, following an investigation into organized black credit rings operating under the guise of legitimate businesses. Authorities inspected eight suspicious locations, discovering groups using businesses, branches, or household businesses registered for jewelry and clothing rentals to hide high-interest lending activities.

To conceal exorbitant interest rates, which reached over 500% per year in some instances, the groups utilized various deceptive tactics. These included converting loan amounts into gold to sign “asset rental contracts,” splitting interest into multiple fees such as “gold rental fees,” “file fees,” or “service fees,” and even creating fraudulent contracts for renting party dresses at inflated prices to mask the true cost of borrowing.

In one specific case involving the business entities D. P. Gold and T. V. Gold, the group provided loans to 146 people through 206 contracts, totaling over 10 billion VND, with illicit profits exceeding 4.18 billion VND. Police are continuing to expand the investigation to identify further links and potential crimes related to property extortion.

Entities

D. P. Gold · Ho Chi Minh City · Ho Chi Minh City Police · Ministry of Public Security · Nguyễn Văn Long · T. V. Gold · TC79 Service Co., Ltd · TC79 Service Co., Ltd. · Tran Van Cong · Vietnam

Claims

What the coverage asserts, and how many sources carry each claim.

[● 7 SOURCES] Ho Chi Minh City police prosecuted 36 individuals for usury in civil transactions. cafebiz.vn · kienthuc.net.vn · thanhnien.vn · tienphong.vn · afamily.vn
[○ 1 SOURCE] The TC79 Service Co., Ltd. network collected over 23 billion VND in interest.
[○ 1 SOURCE] Tran Van Cong was identified as the leader of the TC79 Service Co., Ltd. network.
[○ 1 SOURCE] The TC79 Service Co., Ltd. network facilitated 14,844 loan contracts.
[● 7 SOURCES] Police inspected 8 suspicious locations in Ho Chi Minh City. cafebiz.vn · kienthuc.net.vn · thanhnien.vn · tienphong.vn · afamily.vn
[● 6 SOURCES] Criminals used fake rental contracts for party dresses to hide loan interest. cafebiz.vn · kienthuc.net.vn · thanhnien.vn · tienphong.vn
[● 7 SOURCES] Interest rates in the gold rental schemes reached over 500% per year. cafebiz.vn · kienthuc.net.vn · thanhnien.vn · tienphong.vn
[○ 1 SOURCE] The TC79 Service Co., Ltd. network disbursed nearly 100 billion VND.
[● 2 SOURCES] Interest was disguised as various fees including gold rental, file, and service fees. kienthuc.net.vn · thanhnien.vn
[● 3 SOURCES] The groups converted loan amounts into gold to sign asset rental contracts. cafebiz.vn · thanhnien.vn · tienphong.vn
[○ 1 SOURCE] The D. P. Gold and T. V. Gold groups obtained over 4.18 billion VND in illicit profits. cafebiz.vn
[○ 1 SOURCE] The D. P. Gold and T. V. Gold groups provided loans to 146 people through 206 contracts. cafebiz.vn