Shark Thuy was additionally charged with bribery, what punishment does he face?

The Investigating Police Agency of the Ministry of Public Security prosecuted the accused against Mr. Nguyen Ngoc Thuy, Chairman of EGroup Education Company (Shark Thuy), for the crime of "Giving bribes". This is a new development in the case after Mr. Thuy was prosecuted at the end of March.

On December 5, the Investigating Police Agency of the Ministry of Public Security announced the decision to additionally prosecute the accused against Mr. Nguyen Ngoc Thuy, Chairman of EGroup Education Company (also known as Shark Thuy), for the crime of "Giving bribes".

The Investigating Police Agency said that the criminal case of "appropriating assets" related to Egroup Group and its subsidiaries such as Egame Investment and Distribution Joint Stock Company (Egame Company) has been prosecuted since March 21, 2024.

The alleged acts occurred in the process of raising capital from investors, causing trillions of VND to be appropriated. Mr. Nguyen Ngoc Thuy, as the head of Egroup, is accused of participating in these acts, causing great damage to many individuals and organizations.

Along with the decision to prosecute the accused against Mr. Thuy, the Investigating Police Agency also added the crime of "Giving bribes" to him, after expanding the investigation of the case. Accordingly, Mr. Thuy is accused of committing bribery in transactions related to Egroup's business activities, in order to "soften" lawsuits, investigate or facilitate the company's activities.

Not only Mr. Nguyen Ngoc Thuy, the case also involves many other individuals in the system of Egroup and its subsidiaries.

The investigating agency has decided to prosecute the accused and temporarily detain a number of other leaders of Egroup Group and related companies such as Tong Thi Kim Lien, Chairman of the Board of Directors of Nhat Tran Company, for the crime of "Accepting bribes"; Pham Thi Thanh Tho, Chief Accountant of Egroup Group and Nguyen Thi Hoai Huong, Accountant of Egame Company.

In addition, Nguyen Manh Phu, Chief Financial Officer of Egroup, was also prosecuted with two notable crimes.

Nguyen Ngoc Thuy, also known as Shark Thuy, is one of the prominent entrepreneurs and one of the main investors in the program "Shark Tank Vietnam". Before being involved in these serious cases, Mr. Thuy was known as the founder and CEO of Egroup, as well as the General Director of the Apax English system. However, Mr. Thuy's career has quickly fallen into crisis since a series of crimes such as appropriation of property were launched in 2023.

According to information from the affected people, Shark Thuy and related companies have appropriated trillions of VND through contracts in the form of deposits. A series of scandals in the process of raising capital, allegations that Mr. Thuy's company asked parents to pay tuition fees first but then suddenly closed or switched to online teaching, causing many families to face financial difficulties.

In the context of lawsuits related to Shark Thuy's companies constantly coming to light, the Investigating Police Agency has expanded the investigation to clarify the behavior of related subjects and recover the appropriated assets. The decisions to prosecute the accused and detain many of Egroup's leaders are part of the effort to handle these serious legal cases.

The investigating agency also affirmed that it will continue to expand the case and apply measures to recover assets in accordance with the law. The incident is still ongoing and shows no signs of cooling down, causing the public to continue to follow every step of this case.

With a series of allegations and serious prosecution decisions, Shark Thuy is facing an uncertain future. His businesses, along with the Apax education system, will find it difficult to maintain their credibility amid growing public suspicion.

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