South Korea: 10 billion investment fraud as a high-profit bait for making a BTS pictorial

---

The 50s were arrested, who intercepted 11 billion won of investment collected by making a BTS pictorial. On the 21st, the Jeju Eastern Police Department arrested and investigated an aunt of an investment company, 57, on the charge of stealing 11 billion won (violation of the Act on the Regulation of Fraud and Similar Receiving Behavior) by tricking them into guaranteeing profits if they invested in BTS pictorial production.

According to the police, Mr. Ko is suspected of taking 100 to 200 billion won per investor in the name of making BTS pictorials from March 2018 to this year. There are about 70 victims so far, and the scale of damage is 11 billion won. As a result of the police investigation, investment was attracted by tricking them into paying 20% ​​of annual profits as well as guaranteeing the principal if they invested in making BTS pictorials, but there was no actual pictorial production or investment.

Mr. Ko spent most of the money invested in repaying his personal debt (1 billion won) and paying for entertainment expenses, living expenses, and interim recruitment plan allowance. The police are investigating four intermediary recruitment officers for the same charge. It is known that the interim recruitment plan received investment by soliciting investment from family, acquaintances, and co-workers.

An official from the Jeju East Department said, It turned out that Ko made a false BTS pictorial to raise investment funds in order to raise stock investment funds.