Hong Kong police detain 127 in large Vietnamese-run loan-sharking ring

A six-month undercover investigation culminated in the arrest of 127 individuals on Oct. 8-9, comprising 55 men and 72 women aged 23 to 92, in Hong Kong's West Kowloon area. Police identified ten core members, led by a Vietnamese woman with a Hong Kong identity card, and noted that most senior figures were Vietnamese holding local IDs. The group is accused of running illegal loan-sharking operations, charging daily interest that translates to an annual rate well beyond the 48% legal limit, and managing rotating savings schemes that trapped participants in opaque fund distributions.

Investigators also linked the syndicate to forged identity and construction worker cards, unlicensed gambling halls, bars without liquor licences, and drug supply. Searches uncovered over HK$2 million in cash and valuables, loan records, forging equipment, gambling devices and a HK$400,000 car. All suspects remain in custody while authorities continue to examine their backgrounds and financial sources.