Hanoi Police provide crucial information to victims in the Shark Bình case

At a Ministry of Public Security press conference on the afternoon of 3 April 2026, Lieutenant Colonel Nguyen Duc Long, Deputy Director of Hanoi Police and Head of the Investigation Office of Hanoi Police, provided information related to the Nguyen Hoa Binh case (Shark Bình). Lieutenant General Nguyen Quoc Toan, Chief of the Police Office and spokesperson, chaired the briefing.

Focus on recovering funds for investors

Colonel Nguyen Duc Long said the investigative agency has followed directives from police leadership by not only proving criminal acts but also seizing assets derived from the crime to compensate victims. In the Shark Bình case, investigators have focused on searching and verifying the flow of funds and assets of the involved individuals, with money and valuable assets totaling over 900 billion VND earmarked for compensating investors.

To date, 51 investors have contacted the investigative agency to work with it, and investigators will guide procedures for recovering victims’ money.

Money laundering allegations in the Phó Đức Nam case

Regarding the case of Phó Đức Nam, known as Mr Pips, Hanoi Police have requested indictments against Nguyen Hoa Binh, Shark Bình, and the chairman of Ngân Lượng Joint Stock Company for money laundering.

According to the investigation conclusion, to facilitate receiving money from investors, Phó Đức Nam and accomplices used the Ngân Lượng electronic wallet system as an intermediary. This arrangement created a large-scale cash flow involving multiple forex platforms. The platforms, which allow investors to profit from exchange-rate differences, are not licensed by the State Bank in Vietnam and operate illegally.

Use of multiple forex platforms and internal coordination

During operations, Phó Đức Nam introduced additional forex platforms into the Ngân Lượng payment system, including DK Trade, ASX, ACX, Sea Investing, HonorFX, and ScopeMarkets. Telegram groups were formed involving sales, technical, operations departments, and platform staff to handle trading issues and reconcile funds.

Funds transferred to Ngân Lượng and routed through banks and forex platforms

Investigation results show that from 15 June 2020 to 23 September 2022, 150 victims transferred money to Ngân Lượng wallet accounts totaling over 213.4 billion VND. The funds circulated through multiple bank accounts under the Ngân Lượng name at major banks, before being deposited into the forex platforms.

Additional charges related to the Antex cryptocurrency project

Beyond the above case, in mid-October 2025, Hanoi Police charged Shark Bình with fraud; violations of accounting regulations causing serious consequences; and tax evasion, related to the Antex cryptocurrency project.

According to the charges, from November 2021 to December 2021, Nguyen Hoa Binh posted online information about launching the Next100 Blockchain investment fund, promising investments in cryptocurrency projects with total capital of 50 million USD over ten years.

Although the project did not proceed as planned, Bình and NextTech shareholders allegedly withdrew funds from the Antex project wallet, transferred them into wallets of individuals within the project, and then converted them into VND for sharing. They also transferred funds into companies within the NextTech ecosystem that were not used for the intended investors’ funds.

Alleged withdrawal from about 30,000 investor wallets

Investigators determined that Nguyen Hòa Bình and founding shareholders withdrew funds from about 30,000 investor wallets, appropriating a particularly large amount.

NextLand real estate accounting violations and alleged concealment of revenue

Hanoi Police also discovered in 2022 that Nguyen Hòa Bình directed the establishment of NextLand Real Estate Trading Joint Stock Company. Investigators said Bình directed staff to use two accounting books, reduce profits, and conceal revenue by understating selling prices on contracts, causing particularly large losses to the state budget.

Asset freeze, seizure, and repayments

Investigators froze and seized funds and assets totaling about 900 billion VND, including 597 gold bars, USD, 18 “red book” land titles, 2 cars, and many documents, vouchers, ledgers, devices, and electronics. To date, the defendants have repaid about 3.45 billion VND.