Shark Thuy was arrested, Apax Leaders stopped refunding tuition fees to parents

The above information was released by Apax English Joint Stock Company (a unit under Egroup Education Corporation) on March 26. The unit will temporarily stop confirming and paying tuition fees to parents. The unit also temporarily stops refunding tuition fees until there is a conclusion from the police investigation agency related to Shark Thuy.

"Apax hopes to receive the understanding and companionship of parents," the announcement stated.

According to the announcement, Shark Thuy's arrest does not affect the operations and teaching activities at Apax's open English centers such as: Centers in Hoang Dao Thuy (Hanoi), Cam Pha, Uong Bi (Quang Ninh), Le Hong Phong (Hai Phong), Ha Nam, Vinh Phuc, Hung Yen, Ha Tinh, Thanh Hoa.

Shark Thuy was arrested, Apax Leaders announced to stop refunding tuition fees. (Illustration photo: AP)

Currently, Ms. Nguyen Thi Dung, member of the Board of Directors of Egame Company, member of the Executive Board of Egroup, is temporarily running the group.

On the same morning, Mr. Nguyen Ngoc Thuy, Chairman of Egroup Education Corporation (also known as Shark Thuy) was prosecuted and temporarily detained for the crime of Fraudulent appropriation of property.

Apax Leaders is a chain of English teaching centers for children belonging to the Egroup ecosystem founded and operated by Mr. Nguyen Ngoc Thuy. Since the end of 2022, many parents in Hanoi, Ho Chi Minh City, Dak Lak, and Da Nang have complained because many centers have closed, the teaching quality is not as committed, "taking the money and abandoning the customers" and demanding a refund of tuition fees.

In June 2023, the Department of Education and Training of Ho Chi Minh City released statistics that Apax English Joint Stock Company is teaching about 11,295 students in the city, of which 839 are studying directly, more than 6,000 students have reserved their results and more than 4,300 students have requested to withdraw their fees.

The tuition fee that must be refunded to parents is more than 108 billion VND. Of which, Apax paid more than 14 billion VND, still owing more than 93 billion VND.

In addition, the unit still owes teachers and staff salaries until February 2023 with an amount of more than 11 billion VND and rent of 9 billion VND.

Apax proposed a plan from January 2025 to December 2025, paying 4 million VND each quarter, divided equally among parents until completion. The remaining debt will be carried over to the following year. From January 2025, 4.5 million VND will be paid each quarter until the end.

Ha Cuong

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