Hanoi police say Shark Bình laundered funds for a forex broker run by the Mr. Pips crime gang.

At a press briefing on the results of police work in Q1/2026, Lieutenant Colonel Nguyen Duc Long, Deputy Director of Hanoi City Police, provided updated information on the investigation into Nguyen Hoa Binh (Shark Bình) and his co-accused.

Prosecution decision issued in October 2025

Lieutenant Colonel Nguyen Duc Long said that after collecting sufficient documents and evidence, in October 2025 the Hanoi Police Investigation Police Department issued decisions to prosecute the criminal case and to prosecute Nguyen Hoa Binh together with 10 other defendants for offenses including fraud to misappropriate assets, violations of accounting regulations causing serious consequences, and tax evasion.

Expanded investigation into money laundering

As the case expanded, the Investigation Police Department of Hanoi clarified acts related to money laundering. Nguyen Hoa Binh and accomplices allegedly laundered money for a forex broker associated with the crime group led by Phó Đức Nam and Le Khắc Ngọ (aka Mr. Pips).

From June 2020 to September 2022, 150 victims reportedly transferred to Ngân Lượng wallet accounts a total of nearly 214 billion VND. The transfers were made through deposits into accounts under Ngân Lượng JSC to fund investments on forex platforms including GKFX, ASX, ACX, and HonerFX.

Lieutenant Colonel Long also stated that although Binh allegedly knew the forex platforms operated by Nam and Ngo violated the law, he reportedly directed staff not to disclose the real wallet address of the platforms. Instead, staff reportedly contacted forex platform staff of Phó Đức Nam to create fake wallet deposit and withdrawal data, and then provided that data to the police.

Asset seizure and compensation efforts

Regarding whether investors could recover money, Lieutenant Colonel Long said that during the investigation, in addition to proving the criminals’ acts, the agency would focus on seizing assets obtained from crime, freezing accounts, and seizing property related to the crime to compensate victims when there is a legal basis.

In this case, the Hanoi Police Investigation Department reported that it has been proactive during searches, traced the money flow, and verified assets of Nguyen Hoa Binh. It said cash, gold, and real estate valued at over 900 billion VND have been seized to support victim compensation.

Call for victims to provide information

The Hanoi Police urged victims-investors in the case to contact the Investigative Agency directly to provide information to determine the amount embezzled, which would serve as a basis for returning funds to victims when there is sufficient legal basis.