Shark Bình Pledges to Rectify Losses for Investors

During an information session on several cases held on the afternoon of October 14, Colonel Thành Kiên Trung, Deputy Head of the Economic Police Department (PC03, Hanoi City Police), announced the initiation of legal proceedings, the indictment of suspects, and the issuance of arrest warrants for Nguyễn Hòa Bình, Chairman of the Board of Directors of Nexttech Joint Stock Company (aka Shark Bình), and nine others. They are under investigation for two charges: Fraudulent Appropriation of Property and Violation of Accounting Regulations Resulting in Serious Consequences.

Notably, during his interactions with the investigative authorities, suspect Nguyễn Hoà Bình acknowledged his wrongful actions and pledged to compensate the investors of Antex digital assets who suffered losses.

Colonel Thành Kiên Trung stated that to date, Hanoi City Police have received complaints from four victims, totaling over 6 billion VND in losses. Hanoi City Police have determined that Nguyễn Hoà Bình and his accomplices misappropriated an exceptionally large sum of money.

According to the allegations, from November 2021 to December 2021, Nguyễn Hòa Bình posted on social media about the launch of the “Next100 Blockchain” investment fund, promising to invest in digital currency projects with a total capital of 50 million USD over 10 years.

Despite the project not progressing as planned, Bình and NextTech’s shareholders agreed to withdraw funds from the Antex project’s main wallet, transfer them to the digital wallets of certain individuals within the project, and then convert them into VND for distribution. Additionally, funds were transferred to companies within the NextTech ecosystem for unauthorized purposes, misusing investors’ money.

To date, the investigation has found that Nguyễn Hòa Bình and the founding shareholders withdrew funds from approximately 30,000 investor wallets, embezzling a substantial amount from investors.

Expanding the investigation, Hanoi City Police discovered that in 2022, Nguyễn Hòa Bình directed the establishment of NextLand Real Estate Trading Joint Stock Company. He instructed employees to maintain two sets of accounting records, manipulate profit reductions, and conceal revenue by undervaluing sales contracts with customers (actual sales and revenue were tracked in internal accounting records), causing significant losses to the state budget.

Currently, Hanoi City Police are continuing to investigate and clarify violations related to member companies within the NextTech ecosystem. “Through our investigative efforts, we have determined that the activities within Shark Bình’s ecosystem extend beyond the two charges mentioned,” said Colonel Trung.

The Investigative Police Agency has seized and frozen assets totaling approximately 900 billion VND, including 597 gold bars, USD, 18 land titles, 2 cars, and various documents, records, electronic devices, and related materials. To date, the suspects have paid 3.45 billion VND in compensation.

Hanoi City Police are continuing to expand the investigation to clarify violations related to member companies within the NextTech ecosystem.

Hanoi City Police urge any victims of this case to contact the Economic Police Department – Hanoi City Police (Address: 382 Khâm Thiên, Văn Miếu – Quốc Tử Giám Ward, Hanoi; Investigator: Bùi Đức Hiếu, Phone: 0983.794.570).