Vietnam busts Ukrainian-led loan shark operation with 2,000% annual interest

April 09, 2024

The Vietnamese Ministry of Public Security on Tuesday announced the arrest of two Ukrainian suspects for operating usury services through mobile apps and websites, offering annual interest rates of up to 2,000 percent. It is estimated that Bugaevskiy Tymur, 34, and Kravchuk Iryna, 39, both Ukrainian nationals, have illicitly earned trillions of Vietnamese dong through this operation. They employed advanced technology to conduct large-scale illegal loan-sharking operations with interest rates as high as 2,000 percent annually. Following evidence collection, authorities apprehended Tymur and Iryna upon their entry into Vietnam to oversee usury enterprises. The investigation identified Katerynchyk Roman, a 38-year-old Ukrainian, as the mastermind, though he had already fled Vietnam.

The source of this news is from Tuoi Tre News

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