Arrest Warrant Requested for Academy Director Who Deceived Parents and Students with 'High-Profit Bait' Scam

[Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] A cram school director who deceived parents and students into investing in online education programs during COVID-19, promising high returns, has been caught for fraud.

On the 26th, the Jangseong Police Station in Jeonnam applied for an arrest warrant for the cram school director A (40, female) on charges of fraud.

A is accused of embezzling 1.2 billion won from 12 people, including parents of students at her cram school and former students, from December 2019 to March this year by falsely promising profits from investing in non-face-to-face elementary education programs.

A reportedly attracted investment funds by using tactics such as saying, "Internet lectures are popular due to the prolonged COVID-19 situation. Even if you invest for just one week, you can get back your principal and interest."

She also swindled money from acquaintances by telling them to open high-interest savings accounts with nearly 15% annual interest under her name.

Police investigations revealed that A used part of the embezzled funds to repay her own debts.

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