Woman provides black credit lending with “neck-cutting” interest rates

From late 2019 until her arrest, Bui Thi Huong in Thanh Hoa had been providing illegal loans with exorbitant interest rates to many underprivileged people in the area, profiting unjustly over 600 million VND.


On February 5, according to the Thach Thanh District Police, Thanh Hoa Province, it was reported that the agency has recently investigated, clarified, and arrested Bui Thi Huong (born in 1986; residing in Thanh My commune, Thach Thanh district) for the act of lending “black credit”.

Bui Thi Huong at the police station. Photo: Thanh Hoa Police

Combating black credit during Tet

According to the Thach Thanh District Police, during the struggle, the Thach Thanh District Police discovered that in December 2019, Ms. B.T.T. (residing in Thanh My commune, Thach Thanh district) borrowed 50 million VND from Bui Thi Huong at an interest rate of 3,000 VND/million/day. By October 2023, Huong made illicit profits from lending money to Ms. T. with high interest rates, totaling over 170 million VND.

Expanding the case, the Thach Thanh District Police also discovered that from late 2019 until the time of arrest, Bui Thi Huong had lent money to many poor people in Thanh My commune at a “cut-throat” interest rate, earning illicit profits of over 600 million VND.

Dismantling “black credit”

During a search of Bui Thi Huong’s residence, the police force seized many sales contracts, driver’s licenses, identity cards, and documents, as well as customer information records related to high-interest lending.

Currently, the case is being further investigated and clarified by the Thach Thanh District Police.

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