In addition to the two charges of "Fraudulent appropriation of property; Violation of accounting regulations causing serious consequences," the Hanoi City Police Investigation Agency has also charged the suspect Nguyen Hoa Binh with "Tax evasion."
Colonel Nguyen Duc Longing, Deputy Director of the Hanoi City Police, answers questions from reporters. Photo: Ministry of Public Security's electronic information portal.On the afternoon of December 15th, at a press conference of the Ministry of Public Security, Colonel Nguyen Duc Longing, Deputy Director of the Hanoi City Police, provided information about the case involving the defendant Nguyen Hoa Binh (commonly known as Shark Binh, Chairman of the Board of Directors of NextTech Group Joint Stock Company).
Colonel Nguyen Duc Longing stated that the investigative agency has clarified the model, scale, and nature of the fraud and embezzlement of assets, as well as the legal violations committed by the defendant Nguyen Hoa Binh and related individuals.
NextTech's ecosystem comprises 35 businesses. Of these, only 11 are currently operating, while 22 have ceased operations or are in the process of dissolution.
From May 2021, defendant Nguyen Hoa Binh, along with other individuals, built and developed the AntEx cryptocurrency project, aiming to invite investors to invest in and purchase AntEx to fund the development of the VNDT digital currency project and the VNDT e-wallet software.
These transactions are settled through the Ngan Luong Payment Gateway. Since around March 2022, the State Bank of Vietnam, through monitoring and assessment, has detected and warned through the media about the risks associated with the AntEx cryptocurrency.
However, Nguyen Hoa Binh concealed the information and, along with the shareholders of NextTech Company, withdrew money from the AntEx cryptocurrency wallet, transferred it to his personal wallet, and sold it for Vietnamese currency to Chia among themselves.
Furthermore, Nguyen Hoa Binh and his accomplices also transferred a sum of money to accounts of companies within the NextTech ecosystem. The suspects raised 4.5 million USDT from 30,000 investor wallets and misappropriated a particularly large amount of money. The Hanoi City Police Investigation Agency has initiated legal proceedings against the suspects for the crime of fraud and misappropriation of property.
Furthermore, the individuals also committed violations of accounting regulations at NextLand Real Estate Joint Stock Company. This legal entity was established in 2022 under the direction of Nguyen Hoa Binh and is one of the companies within the NextTech ecosystem.
The defendant Binh instructed employees to reduce profits by lowering the selling price on sales contracts with customers and using two accounting systems to conceal revenue. Initial documents indicate that the defendants' actions caused damage to the state budget amounting to over 44 billion VND.
Regarding the tax evasion case at Vimo Technology Joint Stock Company, in 2024, Vimo Technology Joint Stock Company, with Do Cong Dien as General Director and shareholders including Nguyen Huu Tuat and Nguyen Hoa Binh, operated as a payment intermediary, receiving and disbursing payments through the use of POS machines and collecting fees.
Due to the large revenue of Vimo Joint Stock Company, Nguyen Hoa Binh instructed Do Cong Dien and Nguyen Huu Tuat to declare reduced revenue in February, March, and April 2024 off the books. The Hanoi Tax Authority determined that Vimo Joint Stock Company had evaded taxes amounting to over 29 billion VND.
On October 14, 2025, the Investigation Police Department of Hanoi City Police initiated additional charges in the tax evasion case and charged additional defendants, Nguyen Hoa Binh and Nguyen Huu Tuat, while also ordering the temporary detention of Do Cong Dien for the crime of tax evasion.
To date, through investigation and searches, the Hanoi City Police Investigation Agency has seized, temporarily halted transactions, and frozen money, gold, and other assets of the suspects, totaling approximately 900 billion VND. Regarding other suspects, the Hanoi City Police Investigation Agency will continue to expand the investigation and gather further documents.
