Nguyen Ngoc Thuy’s younger sister and brother are under police investigation for allegedly assisting him in a fraud scheme. Thuy, the chairman of Egroup and founder of the English school chain Apax Leaders, faces serious accusations.
Authorities have expanded their inquiry into Egroup and its affiliate, Egame, questioning Nguyen Thi Dung and Nguyen Van Son on suspicion of fraudulent appropriation of assets. They are among 23 managers at Egame charged with similar offenses. While Dung and two others have been granted bail, the rest remain in custody. Police have not yet disclosed specific details about the alleged crimes.
Thuy, 43, was arrested in March last year along with Dang Van Hien, head of shareholder relations at Egame, on charges of fraud. Police investigations revealed that between 2015 and 2023, Thuy and his accomplices sold fake shares of Egroup through Egame, accepting payments in cash or property from investors.
In a related case, Ho Chi Minh City police also launched an investigation into Thuy and Apax Leaders in 2023 after hundreds accused the school chain of embezzling approximately VND 6 billion (around US$227,000) collected as tuition fees.
At its peak, Apax Leaders claimed to operate 120 centers nationwide, serving some 120,000 students, according to its website.
