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How did Shark Binh 'do business' before being arrested?

Mr. Nguyen Hoa Binh, commonly known as Shark Binh, has just been prosecuted for fraud and violating accounting regulations with serious consequences. Before his arrest, Shark Binh was famous for many large investment deals.

Báo Tuổi TrẻBáo Tuổi Trẻ14/10/2025

Shark Bình - Ảnh 1.

Shark Binh (middle) and his accomplices at the investigation agency - Photo: Provided by Hanoi Police

As reported by Tuoi Tre Online , Hanoi City Police said they have decided to prosecute the case and prosecute Nguyen Hoa Binh (44 years old, commonly known as Shark Binh) and 9 others for 2 crimes: fraud and appropriation of property and violation of accounting regulations causing serious consequences.

How does Shark Binh Group do business?

Mr. Binh - commonly known to the public by the nickname "Shark Binh", is one of the prominent faces of the Vietnamese startup community. Shark Binh's name is associated with the TV show "Shark Tank Vietnam", where he is considered a "tech shark".

Shark Binh’s entrepreneurial journey began very early. In 2001, while still a sophomore at Hanoi National University, Mr. Binh founded the software company PeaceSoft.

In 2013, PeaceSoft was restructured with its member companies to establish Future Technology Investment and Development Company Limited, then changed to NextTech Group Joint Stock Company.

By 2020, NextTech had expanded its operations to many other countries such as Indonesia, Malaysia, Philippines, Thailand... and owned more than 20 member companies.

On its website, NextTech said it had thousands of employees. At the same time, NextTech also recorded its highest charter capital in its history of operation at VND500 billion, after increasing from VND100 billion in December 2020.

Shark Binh's NextTech ecosystem is diverse with many famous technology brands such as mPoS, VIMO, Boxme, FastGo, Ngan Luong...

NextTech is even considered as "Alibaba in miniature of Vietnam". In particular, nganluong.vn - an important member unit in this ecosystem, was honored by Red Herring magazine (USA) in the top 100 potential technology enterprises in Asia.

However, what is noteworthy is that the capital scale of NextTech and the "core" in the ecosystem, nganluong.vn, have both decreased sharply, in contrast to the image of a corporation that is expanding and growing impressively as shown through communication campaigns.

Specifically, data from the national business registration system shows that NextTech's charter capital has decreased sharply, from VND500 billion to more than VND4.2 billion by October 2023.

Similarly, nganluong.vn was established in 2012 with an initial capital of 52.7 billion VND, which later increased to nearly 370 billion VND. However, by early 2024, this enterprise had reduced its capital by more than 85%, leaving about 52.7 billion VND.

At the same time, according to Tuoi Tre Online data, NextTech's revenue is not large, in the two most recent years 2022 - 2023 it was only about a few tens of billions of VND per year.

When did Shark Binh join cryptocurrency?

On NextTech's official website, there are currently no products or projects related to cryptocurrency.

However, a few years ago, the group actively promoted and affirmed its pioneering position in the blockchain field, considering it an important part of its future technology strategy.

As of 2021, NextTech announced the Next100 Blockchain fund with a scale of 50 million USD to invest in equity and early-stage digital assets (Tokens) of blockchain technology startups.

This fund was introduced in the context of the Crypto investment community being in a "deep crisis of confidence".

Shark Binh - then founder and chairman of Next100 Blockchain fund, said that the biggest difference of the fund is the thorough appraisal process and stamp of affirmation of the capacity and kindness of the project team.

However, according to the newly announced conclusion of the investigation agency, from August 2021 to November 2021, Shark Binh's group issued and sold 33.2 billion "AntEx digital currency" to about 30,000 investors on the exchanges, earning 4.5 million USDT (USDT is a digital currency, equivalent to 4.5 million USD, about 117 billion VND).

Police determined that Mr. Binh used his reputation and influence to post information on social networks about the launch of the "Next100 Blockchain" investment fund, pledging to invest in digital currency projects with a total capital of 50 million USD over 10 years.

However, so far, the investigation agency has determined that Mr. Binh and the founding shareholders withdrew money from 30,000 investor wallets, appropriating an exceptionally large amount of money.

The police investigation agency has temporarily detained and frozen the money, accounts, securities, and assets of the subjects with a total value of about 900 billion VND, including: 597 gold bars, many USD, 18 red books, 2 cars, and many related documents, certificates, books, and electronic devices.

BINH KHANH

Source: https://tuoitre.vn/shark-binh-kinh-doanh-ra-sao-truoc-khi-bi-bat-20251014151106699.htm


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