Shark Thủy arrested for fraud.

According to information from the Ministry of Public Security's press conference on the morning of March 26, Lieutenant General To An Xo (Spokesperson of the Ministry of Public Security) stated that the Police Investigation Agency has initiated criminal proceedings and temporarily detained Mr. Nguyen Ngoc Thuy (Chairman of EGroup Education Company, also known as Shark Thuy) and Mr. Dang Van Hien (Head of Shareholder Relations Department of EGame Company) on charges of fraud and appropriation of property.

Shark Thuy has been charged with fraud and misappropriation of property.

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Nguyen Ngoc Thuy, born in 1982 in Hanoi , is the Chairman of Egroup and currently the General Director of Apax English Joint Stock Company.

He is widely known as an entrepreneur who dropped out of university and built a multi-billion dollar corporation from scratch. Shark Thủy is one of the "powerful" guests on the Shark Tank Vietnam program, serving as a principal investor.

In 2023, Shark Thủy was unexpectedly accused by many people of defrauding them of trillions of VND through various contracts in the form of deposit agreements.

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In addition, Mr. Thuy's Apax Leader English center system also faced problems. Parents of students at these centers reported being required to pay tuition fees in advance, but after a while, the centers suddenly closed down or switched to online teaching.

Minh Tue

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