Ghost Gift Card Company CEO Who Laundered Voice Phishing Funds Sentenced to 2 Years and 6 Months in Prison

[Financial News] The CEO of a ghost gift card company who laundered voice phishing funds through checks has been sentenced to prison.
Seoul Eastern District Court Criminal Division 12 (Presiding Judge Lee Jeong-hyeong) sentenced Choi Mo (37), who was indicted for violating the Special Act on Prevention and Compensation of Telecommunications Financial Fraud, to 2 years and 6 months in prison on the 18th. An accomplice, Go Mo (35), was sentenced to 8 months in prison.
The court stated, "There is evidence that members used the account information provided by the defendants to transfer certain amounts," adding, "However, it is difficult to see that they led the crime, and some actions such as transfers or payment amounts were unilaterally decided by the members, so merely providing account information is not considered an intelligent act." Nevertheless, the court explained the reason for sentencing, stating, "(Given the enormous damage caused by voice phishing crimes) severe punishment is inevitable." 
Earlier, the Seoul Eastern District Prosecutors' Office Voice Phishing Crime Government Joint Investigation Team indicted Choi on July 4 for registering a gift card company with the tax office, falsifying transaction statements, and withdrawing and delivering the funds with checks as if they were actual transactions. The company was a ghost company located in a residential area without a sign or name, and it was revealed to have been established just before the voice phishing crime.

yesji@fnnews.com Kim Yeji Reporter