The Police Department, investigating crimes related to corruption, economics, and smuggling, and the Vietnam’s Ministry of Public Security are verifying and resolving applications from many investors accusing Nguyen Ngoc Thuy (Shark Thuy) of fraudulently appropriating assets through criminal means via the share transfer method of Egroup Education Group Joint Stock Company.
Based on the investigation results, on March 21, 2024, the Police Investigation Agency of the Ministry of Public Security issued a Decision to prosecute the criminal case “Fraudulent appropriation of property” that occurred at the Education Group Joint Stock Company, Egroup Education, Egame Investment and Distribution Joint Stock Company; March 22, 2024, Decision to prosecute the defendant, Order to arrest the defendant for temporary detention for:
Shark Thuy, Chairman cum CEO of Egroup Education Group, Egame Investment and Distribution Company.
Dang Van Hien, Head of the Investor Relations Committee of Egame Investment and Distribution Joint Stock Company on the crime of “Fraudulent appropriation of property” prescribed in Clause 4, Article 174 of the 2015 Penal Code, amended and supplemented in 2017.
After approval by the Supreme People’s Procuracy; On March 25, 2024, the Police Investigation Agency of the Ministry of Public Security implemented the above Decisions and Orders in accordance with the law. Currently, the Police Investigation Agency of the Ministry of Public Security is continuing to thoroughly investigate, expand the case and apply legal measures to recover assets.
Egroup Education Group Joint Stock Company is the parent company of IBC, associated with the name of Mr. Nguyen Ngoc Thuy – Chairman of the Board of Directors of IBC, known to many people as “Shark Thuy” when participating in the Shark Tank Vietnam Program.
To serve the investigation and handling of the fraudulent appropriation of property by Nguyen Ngoc Thuy and his accomplices and ensure the rights of the victims according to the provisions of law, the Ministry of Investigation Police Agency The police request that those who buy shares or lend money by mortgaging shares of Egroup Education Group Joint Stock Company and currently have outstanding debts that have not yet been reported should urgently contact them to provide records and documents. to the Police Investigation Agency of the Ministry of Public Security, at the address: Room 6/Police Department investigating crimes related to corruption, economics, and smuggling; No. 47 Pham Van Dong, Mai Dich Ward, Cau Giay District, City. Hanoi, phone number: 0988.866.611.
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Source: Vietnam Insider