Nguyen Ngoc Thuy, also known as Shark Thuy. Photo: Ministry of Public Security
Thuy served as board chairman and general director of Egroup Education Group JSC and Egame Investment and Distribution JSC.
He was also chairman of Apax Holdings JSC, the parent company of the controversial APAX Leaders English language center chain.
On Thursday afternoon, the Ministry of Public Security announced that its Department of Corruption, Economic and Smuggling Crime Investigation is expanding its probe into a major fraud and bribery case involving Egroup, Egame, Nhat Tran Trading Service JSC, and other related entities.
In addition to six people previously charged with fraud, bribery, and offering bribes, police have now prosecuted 23 business managers from Egame for their alleged roles as accomplices to Thuy.
Among those charged are Thuy's younger sister, Nguyen Thi Dung, his younger brother, Nguyen Van Son, and Nguyen Trong Vu, the husband of Dung.
All 23 are being prosecuted for fraud to appropriate property under the Penal Code.
Four of the suspects — Nguyen Thi Dung, Vu Thi Dung, Bui Kim Thuy, and Tran Thi Thanh Nga — have been prohibited from leaving their residences due to clear address records, honest cooperation, and active support for the investigation.
The remaining 19 individuals have been taken into custody.
With approval from the Supreme People's Procuracy, police executed arrest and search warrants, coordinated with prosecutors to ensure due process, and transferred the detainees to secured detention facilities.
Officers also seized relevant documents and records during searches of the suspects' residences.
The Ministry of Public Security stated that investigations are ongoing and that legal steps are being taken to recover the misappropriated assets.
The Department of Corruption, Economic and Smuggling Crime Investigation is calling on all organizations, individuals, and businesses involved in the case to voluntarily come forward, report, and help address damages to be eligible for leniency under criminal policy provisions.
In March 2024, Thuy was arrested for his alleged involvement in asset misappropriation linked to Egroup and Egame.
In August, the Ministry of Public Security issued a nationwide call for victims of the scheme to come forward.
According to investigators, from 2015 to 2023, Thuy and his accomplices solicited capital by selling non-existent shares in Egroup, defrauding investors out of substantial sums.
Separately, the Ho Chi Minh City Department of Education and Training later handed over documents to city police regarding Apax Leaders' failure to refund tuition fees to parents.
Dozens of parents previously filed complaints stating that APAX Leaders collected tuition for long-term English courses, then abruptly closed many centers or shifted to online-only instruction.
Parents in Ho Chi Minh City, Hanoi, Da Nang, and Dak Lak also alleged that the services provided did not match the quality promised.
Max: 1500 characters
There are no comments yet. Be the first to comment.