Influencer with '300,000' followers who swindled 500 million won lives lavishly after prison release: 'I can't pay—do what the law says'

[Financial News] A famous influencer with more than 300,000 followers is drawing public outrage after reportedly defrauding acquaintances of hundreds of millions of won in an investment scam and continuing to live lavishly after being released from prison.
The victims have lost the wealth they spent their lives saving and are suffering economic and emotional hardship. Meanwhile, allegations have emerged that the perpetrator is avoiding repayment by exploiting loopholes in the legal system rather than making any effort to compensate the victims.
According to the recently aired Channel A entertainment program 'Detectives: The Trade Secret,' the client said they had been defrauded in an investment scam by A, an acquaintance and influencer they had met seven years earlier.
A first met the client as a customer at a clothing store, then built a rapport with them and earned their trust. A later urged the client to invest, saying, “I have an older brother who works at a securities firm. If you leave your money with him for just two weeks, you can earn high interest.”
When the interest was deposited on the promised date, the client began to trust A and gradually increased the amount invested.
But it was a so-called “rob Peter to pay Paul” scheme, in which returns were paid to existing investors using money from new investors.
A was reported to have stolen the investment money by opening a securities account in the client's name without authorization and manipulating the account records. By the time the client realized they had been scammed, the losses had reached a staggering 480 million won.
Another victim was also found to have lost more than 700 million won through the same scheme.
Investigators found that the person A had introduced as an older brother working at a securities firm was actually the married man A was involved with, and that the two had conspired to carry out the fraud.
A was later sentenced to two years in prison for fraud and served the term, but reportedly resumed working as an influencer with 300,000 followers less than a year after being released.
A was reportedly earning substantial sums through group-buying events and adult-content platforms, among other things, while making no repayments to the victims at all.
There were even allegations that A was managing the proceeds through an account in A's mother's name and concealing assets.
When the detectives on the program went to see A in person and demanded repayment, A reportedly responded brazenly, saying, “I won't give you the money” and “I'll live with a civil lawsuit hanging over me for the rest of my life.”
The victims say they are suffering extreme emotional distress after losing the wealth they spent their lives saving and still being unable to recover any of the money. A, meanwhile, has been criticized for flaunting a comfortable lifestyle without making any effort to compensate them.
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