The case against Nguyễn Ngọc Thủy, widely known as Shark Thủy, has taken a significant turn as the Supreme People's Procuracy of Vietnam has returned the case file for further investigation. Thủy, who is the chairman and CEO of Egroup, is accused of embezzling over 7.6 trillion VND (approximately $320 million) through fraudulent activities involving his company and its affiliates.

On July 27, 2026, the Supreme People's Procuracy issued a notice to relevant authorities and participants in the proceedings, indicating the need for additional investigation into the charges of fraud and bribery associated with Egroup. The investigation period is limited to two months, during which authorities will delve deeper into the allegations.

Previously, in December 2025, the Procuracy had issued an indictment against Thủy and his financial director, Nguyễn Mạnh Phú, for their roles in the fraudulent scheme. They are accused of manipulating company shares and inflating the capital of Egroup from 32 billion VND to 962.5 billion VND to attract investments.

The indictment details how Thủy orchestrated a series of deceptive practices from 2015 to 2023, leading to the embezzlement of funds from over 10,000 victims. It is reported that Thủy collaborated with various individuals within his company to mislead investors into purchasing shares under false pretenses.

In addition to the fraud charges, Thủy is also implicated in a bribery scheme involving Tống Thị Kim Liên, the financial director of another company, where he allegedly agreed to pay a service fee for inflated revenue reporting.

This case has garnered significant attention in Vietnam, highlighting issues of corporate governance and accountability. As the investigation unfolds, many are watching closely to see how the legal proceedings will impact Thủy and Egroup's future operations.