Five charged in Dak Lak lending operation with interest rates of up to 365% a year

Police in Vietnam’s Dak Lak province have charged five people in an alleged high-interest lending operation that offered loans at rates of up to 365% a year.

The provincial police department said on Sept. 5 that the investigation agency had opened a case and charged Châu Ngọc Võ, 38; Nguyễn Tuấn Đạt, 54; Nguyễn Thị Thu Cúc, 58; Nguyễn Thị Hằng, 32; and Nguyễn Thị Hồng Đức, 55. The suspects live in communes and wards across the province.

According to the initial investigation, the group lent money to many residents from 2025 through August 2026. Police estimated that they earned more than 300 million dong in illicit profit.

The loans were mainly arranged through two methods known locally as installment loans and “standing money” loans. Borrowers could receive funds quickly through simple procedures without pledging valuable property, generally providing only identity documents. When payments fell overdue, interest continued to accumulate, rapidly pushing debts beyond borrowers’ ability to repay.

Police searched the residences of people connected to the case to collect evidence. The provincial investigation agency said it is continuing to clarify the allegations and handle the case under the law.