Police Arrest Gang for Embezzling 1.7 Billion Won Using Fake Gold Exchange
Fake Website Created to Deceive Investors
One Person Scheduled to Be Sent for Prosecution This Week
[Asia Economy Reporter Jang Sehee] A group that created fake exchanges to buy and sell various items such as gold and cryptocurrencies and embezzled 1.7 billion KRW has been arrested by the police.
On the 31st, the Seongdong Police Station in Seoul announced that four suspects who collected 1.7 billion KRW from a total of 23 victims were arrested at the end of this month on charges of violating the Act on the Aggravated Punishment of Specific Economic Crimes (fraud).
The police sequentially apprehended the four suspects from March to this month. They are accused of creating a fake website to attract investors and then deceiving them by claiming losses, embezzling a total of about 1.7 billion KRW. It has been confirmed that the website is currently closed.
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Meanwhile, the police stated, "So far, four people have been arrested and detained, and three have been sent to prosecution," adding, "One more person is scheduled to be sent to prosecution within this week."
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