P2P Fraud Blue Moon Fund CEO Extradited from Cambodia and Detained
[Asia Economy Reporter Lee Jung-yoon] The CEO of the online peer-to-peer (P2P) lending company Blue Moon Fund, who fled overseas amid allegations of using new investments to pay off old debts, was arrested in Cambodia and extradited.
According to the police on the 4th, the Gangnam Police Station in Seoul has arrested and is investigating Kim Mo (43), the CEO of Blue Moon Fund, on charges including fraud under the Act on the Aggravated Punishment of Specific Economic Crimes. Kim was arrested in Cambodia last month, extradited to Korea on the 29th, and detained on the 31st.
Blue Moon Fund has operated since 2017 by collecting investments online, lending to online distribution companies, and returning interest to investors. The Financial Supervisory Service launched an on-site inspection after allegations arose that the company was using new investments to cover repayments to existing investors, a so-called "Ponzi scheme."
Hot Picks Today
!["Rather Than Endure a 1.5 Million KRW Stipend, I'd Rather Earn 500 Million in the U.S." Top Talent from SNU and KAIST Are Leaving [Scientists Are Disappearing] ①](https://cwcontent.asiae.co.kr/asiaresize/93/2026051914165468840_1779167814.png)
"Rather Than Endure a 1.5 Million KRW Stipend, I'd Rather Earn 500 Million in the U.S." Top Talent from SNU and KAIST Are Leaving [Scientists Are Disappearing] ①
- "You Might Regret Not Buying Now"... Overseas Retail Investors Stirred by News of Record-Breaking Monster Stocks' IPOs
- "Not Jealous of Winning the Lottery"... Entire Village Stunned as 200 Million Won Jackpot of Wild Ginseng Cluster Discovered at Jirisan
- "Russia Launches Large-Scale Nuclear Drills During Putin's Visit to China"
- "How Did an Employee Who Loved Samsung End Up Like This?"... Past Video of Samsung Electronics Union Chairman Resurfaces
In May of last year, the Financial Supervisory Service requested a prosecution investigation, and Kim disappeared overseas after closing the business at the end of July the same year.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
