"Daily 20% Profit" Bait Used to Swindle 8.4 Billion Won... Cambodia-Based Leading Room Gang Arrested

[Financial News] A gang based in Cambodia that impersonated a famous asset management company to commit investment fraud worth tens of billions of won has been handed over to the prosecution.
Seoul Yangcheon Police Station announced on the 19th that they have handed over 20 members of the gang, charged with joining and operating a criminal organization, to the prosecution. Among them, 7 members, including recruiter Mr. Kim (30), have been arrested and sent to prosecution. For 7 suspects abroad, including manager Mr. Choi (40), a Chinese national, an Interpol Red Notice has been requested.
The gang is accused of swindling approximately 62 Koreans out of 8.4 billion won by impersonating famous domestic and foreign asset management companies while based in Cambodia.
From February to July last year, they set up an office within a mango complex in Cambodia and created a fake site (HTS) linked to actual stock indicators, then advertised on social networking services (SNS). It was investigated that they deceived victims who contacted them after seeing the ads by impersonating famous asset management companies, promising "a daily profit of 5~20% if you invest in the project."
The gang divided roles such as mastermind, team leader, recruiter, sales team, customer center, and money laundering agent to systematically participate in the crime. It was also found that they used accounts and identities under other people's names to avoid tracking by investigative agencies. It was confirmed that the suspects, who were acquaintances such as schoolmates and hometown friends, participated in the crime knowing it was illegal, driven by the thought of making a lot of money in a short period.
Some suspects were additionally booked for drug use.
Most victims were young adults starting their careers or men and women in their 50s and 60s with little investment experience, suffering property damage ranging from several million won to over 400 million won per person.
A police official said, "If someone impersonates an investment expert on SNS and entices you to invest with promises of principal protection and high returns, it is likely a scam, so please be cautious."

welcome@fnnews.com Jang Yuha Reporter