The Investigation Police Agency under the Ministry of Public Security has issued a notice seeking victims of a fraud case involving the appropriation of assets. The case occurred at Egroup Education Group Joint Stock Company (Egroup Corporation) and Egame Investment and Distribution Joint Stock Company (Egame Company).
Shark Thuy before his arrest. Photo: T.L.
According to the investigation results, between 2015 and 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 selling shares for cash or property and borrowing money from investors with Egroup Corporation shares as collateral.
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Shark Thuy arrested for fraud. READ MORE
The Investigation Police Agency has identified these investors as victims in the case. Victims are requested to come forward, report the incident, and provide information, documents, and evidence related to their purchase or loan agreements involving Egroup Corporation shares. The address is Room 6, Department of Investigation of Corruption, Economic and Smuggling Crimes, 47 Pham Van Dong, Cau Giay District, Hanoi; telephone number: 0993093865.
If victims do not come forward, provide information, or submit documents within the specified time frame as per legal regulations, the Investigation Police Agency will not consider their cases in this investigation.
Previously, in March 2024, the Investigation Police Agency of the Ministry of Public Security had initiated legal proceedings and arrested 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.”
Nguyen Ngoc Thuy, a well-known entrepreneur, was one of the powerful guests on the reality show “Thương vụ bạc tỉ – Shark Tank Việt Nam.” He is the founder and Chairman of the Board of Directors and General Director of Egroup Corporation and Chairman of the Board of Directors of Apax English Joint Stock Company.
In 2023, Shark Thuy was accused by numerous individuals of appropriating thousands of billions of dong through various types of contracts in the form of deposits. Many parents whose children were studying at the Apax Leader English Centers, owned 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.
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