Portrait of Mr. Nguyen Huu Tuat, CEO of NextPay, who was just arrested with Shark Binh

(Dan Tri) - Along with Shark Binh, Mr. Nguyen Huu Tuat - General Director of NextPay, co-founder of PeaceSoft (predecessor of NextTech Group) - has also just been prosecuted and detained.

On October 14, Hanoi City Police announced that the Investigation Police Agency had prosecuted Mr. Nguyen Hoa Binh (aka Shark Binh, Chairman of NextTech Group) to investigate the crimes of "Fraudulent appropriation of property" and "Violating accounting regulations causing serious consequences".

Notably, 9 other defendants were prosecuted along with Shark Binh, including Mr. Nguyen Huu Tuat - General Director of NextPay Digital Transformation Group Joint Stock Company - a unit under the NextTech Group ecosystem.

In particular, Mr. Nguyen Huu Tuat is one of Shark Binh's longest-standing associates and is also a figure with significant influence in the development of NextTech.

Mr. Tuat graduated from the Faculty of Information Technology, University of Technology ( Hanoi National University). Together with Shark Binh, Mr. Tuat is one of the three founders of PeaceSoft - the predecessor of NextTech Group.

With a solid technical background, Mr. Tuat is considered a highly influential figure in the development of the NextTech ecosystem, contributing to turning the business from a small software startup into a multi-industry technology corporation.

In the early years of starting a business, while still a student, Mr. Tuat and Shark Binh researched and developed many technological solutions in the fields of e-commerce and online payment, laying the foundation for one of the first multi-industry technology corporations in Vietnam.

In 2013, Mr. Tuat took on the position of CEO of MPOS, a company specializing in providing payment solutions on mobile platforms under the PeaceSoft ecosystem.

In 2018, Mr. Tuat founded and operated FastGo, a “Make in Vietnam” ride-hailing app with the goal of competing with international platforms such as Grab or GoJek. FastGo was once one of the prominent technology startups in Vietnam, expanding its operations to Myanmar and Singapore.

Mr. Nguyen Huu Tuat and Mr. Nguyen Hoa Binh at the police station (Photo: CAHN).

According to Mr. Tuat at that time, FastGo did not come from the opportunity of Uber withdrawing from Vietnam but was nurtured since 2015, to support traditional taxi companies in the context of fierce competition with foreign applications.

After many years of perfecting the technology, in June 2018, FastGo officially launched, attracting the attention of Vietnamese startups.

This application was once considered a "startup phenomenon" when it announced that it would not increase fares during peak hours, and would waive discounts for drivers, only charging a fixed fee of 30,000 VND/day.

However, FastGo's growth began to slow down at the end of 2019. After 8 months of operation, the number of drivers only increased by 20,000, much lower than in the first phase. Since 2020, FastGo has gradually fallen into oblivion.

By May 2021, the application officially stopped updating, ending the project's short journey.

Under Mr. Tuat's leadership, NextPay has strongly expanded its operations in the fintech sector, focusing on digital transformation and cashless payments. NextPay currently provides electronic payment solutions, POS machines, sales management software and TingBox smart devices...

These products are designed for individual and small business customers, helping them access digital payment infrastructure more easily and at lower costs.

According to information published by the company, NextPay currently has about 1,000 employees, present in 34 provinces and cities across the country, operating a network of more than 80,000 payment acceptance points, equivalent to 12% of the total number of POS points in the Vietnamese market.

According to Hanoi Police, in May 2021, Mr. Nguyen Hoa Binh and a number of associates contributed 5 billion VND (of which Mr. Binh contributed 2 billion) to develop the "AntEx digital currency" project, issuing 100 billion tokens. From August to November 2021, this group sold 33.2 billion tokens to about 30,000 investors, earning 4.5 million USDT (about 117 billion VND).

At the end of 2021, Mr. Binh continued to promote the project through the “Next100 Blockchain” Fund with a commitment to invest 50 million USD to strengthen investor confidence. The investigation results determined that the founding group withdrew money from 30,000 investor wallets, appropriating an exceptionally large amount of money.

The investigation agency has temporarily detained and frozen the money, securities accounts, and assets of the subjects, including nearly 600 taels of gold, 18 red books, 2 cars... with a total value of about 900 billion VND.

Hanoi police are continuing to expand the investigation and clarify violations and wrongdoings related to member companies in the ecosystem of NextTech Group.

Source: https://dantri.com.vn/kinh-doanh/chan-dung-ong-nguyen-huu-tuat-ceo-nextpay-vua-bi-bat-cung-shark-binh-20251015152147018.htm