The Ministry of Public Security’s Investigation Police Department has issued a notice seeking victims of a fraud case involving the appropriation of assets. The case occurred at the Joint Stock Company Education Group Egroup (Egroup Corporation) and the Joint Stock Company Investment and Distribution Egame (Egame Company)
“Shark Thuy” prior to the indictment. Photo: T.L. |
The investigation results determined that from 2015 to 2023, the accused, Nguyen Ngoc Thuy (also known as Shark Thuy), Chairman and General Director of Egroup Corporation and Egame Company, along with his accomplices, engaged in deceptive practices using non-existent Egroup Corporation shares to raise capital through various transaction forms. These included cash and transfer payments for share purchases, real estate transactions involving share purchases, and borrowing investor funds with share ownership as collateral.
The Investigation Police Department of the Ministry of Public Security identified these investors as victims of the fraud case. Consequently, the department requests that victims come forward, report, and provide information, documents, and evidence related to their purchase or loan agreements involving Egroup Corporation share ownership. The address for reporting is Room 6, Bureau of Investigation of Corruption, Economic, and Smuggling Crimes (47 Pham Van Dong, Cau Giay District, Hanoi), and the contact number is 0993093865.
If victims do not come forward and provide information or documents by the end of the investigation period as stipulated by law, the Investigation Police Department of the Ministry of Public Security will not consider or resolve their cases within this particular investigation.
Previously, in late March 2024, the Investigation Police Department of the Ministry of Public Security had initiated legal proceedings and issued an arrest warrant for Nguyen Ngoc Thuy, Chairman and General Director of Egroup Education Group Joint Stock Company and Egame Investment and Distribution Joint Stock Company (also known as Shark Thuy), and Dang Van Hien, Head of Investor Relations of Egame Investment and Distribution Joint Stock Company. They were charged with “appropriation of assets by fraud.”
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Businessman Nguyen Ngoc Thuy, also known as Shark Thuy, was a powerful guest on the reality show “Thương vụ bạc tỉ – Shark Tank Việt Nam.” Shark Thuy is the founder and Chairman of the Joint Stock Company Education Group Egroup and the Joint Stock Company Anh Ngữ Apax, serving as both Chairman of the Board and General Director of these companies. In 2023, Shark Thuy faced numerous accusations of fraud involving thousands of billions of dong through various contract forms and deposit agreements. Many parents whose children attended the Apax Leader English centers run by Mr. Thuy also reported that they were asked to pay tuition fees in advance. However, after a while, the centers suddenly closed or switched to online teaching methods. |
Nguyen Huong
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