[Exclusive] Former Police Officer Accused of Laundering 20.8 Billion Won in Voice-Phishing Proceeds; Prosecutors Seek 10-Year Sentence

[Financial News] It was belatedly confirmed that prosecutors have sought a 10-year prison sentence for a former police officer indicted on charges of participating in the laundering of approximately 20.8 billion won in proceeds from a voice-phishing scheme.
According to legal sources on the 14th, prosecutors maintained their previous request for a 10-year prison sentence for former police officer Mr. Park in a trial involving fraud and violations of the Act on Regulation and Punishment of Criminal Proceeds Concealment and other offenses. The case was heard by the 12th Criminal Division of the Seoul Western District Court, presided over by Judge Choi Jeong-in.
Prosecutors also maintained their previous requests for 10-year sentences for Mr. Shim and five-year sentences for Mr. Kim, who were indicted together.
Mr. Park is a retired police officer who reportedly worked for about 10 years on an intelligence team at a frontline police station before operating a gift-certificate company.
According to prosecutors, Mr. Park and the others were indicted on charges of converting criminal proceeds brought by cash-out operatives from a voice-phishing organization into cash while operating the gift-certificate company, and disguising the transactions as legitimate gift-certificate sales.
Prosecutors believe they laundered approximately 20.8 billion won in criminal proceeds on 166 occasions between July and October 2024. Of that amount, approximately 10.2 billion won was identified as proceeds linked to confirmed victims, with 129 victims identified in the investigation.
During the investigation, prosecutors seized approximately 2 billion won in cash and gift certificates worth approximately 800 million won, among other items, from the company’s offices, securing assets worth approximately 2.8 billion won in total.
The court also conducted additional proceedings against Choi, who was indicted together with the others. Prosecutors amended the indictment to add some of the alleged criminal acts in which Choi participated as an accomplice, and Choi’s legal team acknowledged the amended charges. Prosecutors sought a one-year-and-six-month prison sentence for Choi.
Choi was also found to have completed a 10-month prison sentence after being convicted in another voice-phishing case. Choi’s legal team appealed for leniency, citing a settlement reached with two victims that day and efforts to compensate them.
The court concluded arguments that day for four defendants, including Mr. Park and Choi. Further evidence examination remains for another Mr. Kim, who was indicted together with them, so the trial will resume on October 1. After completing the proceedings involving Mr. Kim, the court plans to set a sentencing date for all five defendants together.
[email protected] Choi Seung-han Reporter