Instagram Stock Expert with Tens of Thousands of Followers Suspected of 10 Billion Won Fraud... Police Launch Internal Investigation

Showing off wealth by posting profit rate graphs and luxury photos on SNS
Gathering investors by promising "monthly profit payments if you entrust money"
Over hundreds of reported victim cases... Police launch internal investigation

A (35), an "online stock expert" with tens of thousands of followers. He is reported to have flaunted his wealth by posting photos of luxury foreign cars, designer watches, and more on his social networking service (SNS) account. / Photo by Online Community Capture

[Asia Economy Reporter Lim Juhyung] Allegations have been raised that an "online stock expert" with over 20,000 social media (SNS) account followers committed approximately 10 billion KRW in financial fraud against multiple investors.

On the 5th, the stock-specialized YouTube channel "HanbangTV" uploaded several videos raising suspicions of fraud against Mr. A (35), an online stock expert with over 26,000 followers on Instagram.

According to "Sojae Hanbang," a stock investor who runs this YouTube channel, the damage caused by Mr. A's fraud is reported to have already exceeded 10 billion KRW.

Investors who suffered losses from Mr. A believe he conducted a so-called "Ponzi scheme." A Ponzi scheme is a fraudulent method where returns are paid to earlier investors using the capital of new investors.

A stock-focused YouTuber revealed evidence received from victims who claimed to have been scammed by Mr. A in his YouTube video. / Photo by YouTube Capture

Mr. A boasted of his investment skills by posting daily stock profits, trading timing points, and high-yield graphs on his SNS accounts. He also flaunted his wealth by sharing photos of expensive foreign cars, watches, and bags.

Attracting netizens' attention in this way, Mr. A promised investors that "if you invest with me, I will pay about 5-10% of the investment amount monthly," drawing in investors. It is also reported that he held offline lectures every weekend for 50 to 70 people, charging about 3.3 million KRW per session.

However, recently, the number of netizens raising fraud suspicions against Mr. A has been increasing. More and more people who entrusted their investment funds to Mr. A are reporting that they have not received their returns.

Group chat room created by investors claiming to have been harmed by Mr. A (right) / Photo by YouTube video capture

A KakaoTalk group chat was created by those claiming to have suffered financial damage from Mr. A, where cases of harm have been shared. As of the 2nd, hundreds of participants have joined this chat room.

In this regard, "Sojae Hanbang" also pointed out, "I have grown increasingly suspicious that Mr. A's seemingly godlike timing might be manipulated," and proposed, "Please verify with a video the account that earned 3 million KRW daily in 2018 and the 2019 account logs. If my suspicion is wrong, I will publicly apologize and give Mr. A 10 million KRW as a token of apology."

According to multiple media reports, some victims testified about their damages to the Daegu Police Agency on the 4th, and the police are reportedly conducting an internal investigation into Mr. A's fraud allegations.

Meanwhile, Mr. A's SNS accounts have currently been switched to private mode.

This content was produced with the assistance of AI translation services.