Shark Bình: The tech "shark" and a series of financial allegations, revealing a shocking truth?

Information related to Mr. Nguyen Hoa Binh (commonly known as Shark Binh) is attracting significant public attention. At the Ministry of Public Security's year-end press conference on the afternoon of December 15th, representatives of the Hanoi City Police announced several noteworthy new details.

From Shark Tank to the center of public attention.

Nguyen Hoa Binh, born in 1980, was once a familiar face to the public when he participated in the "Shark Tank" program under the nickname Shark Binh. He is considered one of the prominent technology entrepreneurs, having invested in many startups in the fields of e-commerce, fintech, and media.

Additional charges filed, alleging tax evasion of nearly 30 billion VND.

According to Colonel Nguyen Duc Long, Deputy Director of the Hanoi City Police, the investigating agency has additionally charged Mr. Nguyen Hoa Binh and Mr. Nguyen Huu Tuat with tax evasion. Also charged with this crime is Mr. Do Cong Dien, Chairman and General Director of Vimo Technology Joint Stock Company.

Further investigation revealed that in 2024, Vimo Technology Joint Stock Company had three shareholders: Mr. Dien, Mr. Binh, and Mr. Tuat. This company operates in the payment intermediary sector, providing payment and receipt services through POS systems and collecting fees from transactions.

Ways to "reduce revenue" to lessen tax obligations.

Investigators determined that Vimo had substantial revenue, leading the group of shareholders to conspire to conceal actual revenue in order to reduce tax payments. Mr. Binh is accused of directing the company to keep a portion of its revenue off the books and to declare reduced revenue in February, March, and April 2024.

This behavior is believed to be organized, involving key shareholders. The total amount of taxes allegedly evaded amounts to nearly 30 billion VND, directly impacting financial obligations to the State.

It's not just about tax evasion; it also involves large investment flows.

In addition to tax evasion charges, the police allege that Mr. Nguyen Hoa Binh was also involved in withdrawing money from approximately 30,000 e-wallets belonging to investors, totaling around 117 billion VND. This amount is considered exceptionally large. Furthermore, Mr. Binh is also accused of violating accounting regulations, causing losses to the state budget of approximately 44.8 billion VND.

The AntEx cryptocurrency project and its controversial cash flow.

Another issue mentioned in the case is the AntEx cryptocurrency project. According to the allegations, Mr. Binh and several associates contributed approximately 7 billion VND to build and develop this project. The stated goal was to issue AntEx tokens, attract investors, and thereby raise capital for the future development of the VNDT cryptocurrency and VNDT e-wallet software.

However, according to the investigation results, the VNDT project was not yet complete, but the group had planned to sell a total of 100 billion AntEx tokens to the market. Between August and November 2021, approximately 33.2 billion tokens were issued and sold to nearly 30,000 investors through exchanges. The amount raised was estimated at around 4.5 million USDT, equivalent to approximately 117 billion VND. Investigators believe this money was withdrawn from the investors' wallets.

NextTech and the image of a "miniature Alibaba"

Before the case was exposed, NextTech Group, founded by Mr. Binh, was known for its four main business segments: financial technology (Ngan Luong, mPOS, VIMO), e-commerce and logistics (Boxme, NextSmartShip), O2O service platforms like FastGo, and startup investment.

By 2020, NextTech had expanded its operations to 7 countries, owned more than 20 member companies, and was once dubbed "Vietnam's mini-Alibaba," becoming one of the largest private technology groups in Southeast Asia.

The case involving Shark Bình is still under extensive investigation and continues to be closely watched by the public, especially in the context of questioning trust in the startup and technology environment.

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