Reply:

First, you are not guilty of loan sharking.

 

Clause 1, Article 201 of the 2015 Penal Code stipulates: "Whoever, in a civil transaction, lends at an interest rate 5 times or more of the highest interest rate, prescribed in the Civil Code, earns unjust profits?" fine from 30,000,000 VND to under 100,000,000 VND or has been administratively sanctioned for this act or has been convicted of this crime, has not had his criminal record erased but continues to violate it, he shall be fined from 50,000 VND. 000 VND to 200,000,000 VND or non-custodial reform for up to 03 years.”

 

In this case, the interest rate in your case is 60%/year, the illegal profit is less than 30,000,000 VND. Meanwhile, the law stipulates that the interest rate must be 100%/year or illegal profits of over 30,000,000 VND can constitute a crime with the crime of "lending at high interest rates in civil transactions".

 

Second, the police will consider your complaint. If there are enough elements to constitute a crime, they will prosecute the crime of "fraudulent appropriation of property" or another crime of property infringement according to the Penal Code. the.

 

In case there are not enough elements to constitute a crime, the police will return the application. After the police return the petition, you can sue in a competent court to reclaim the above debt and with the agreed interest rate if you have sufficient documents according to the provisions of law.