Police Conduct Search and Seizure at Film 'Gisaengchung' Investment Company... 100 Billion Won Investment Fraud

An investment advisory firm that invested in the movie 'Parasite' is under police investigation for a fraud case involving investments worth around 100 billion won.

On the 25th, the Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency announced that it conducted a search and seizure yesterday afternoon at five locations, including the residence of Um Mo (41), CEO of investment advisory firm A, located in Goyang, Gyeonggi Province, and A's office in Yeongdeungpo-gu, Seoul. The police reportedly secured materials related to investment attraction through the search and seizure.

After stepping down as CEO of A in 2021, Um acquired a management consulting firm B and attracted investment funds. Um is known to have drawn investors by guaranteeing a monthly return rate of 5-6% through unlisted stock investments. The police believe that Um engaged in investment fraud since his tenure as CEO of A.

As of the first quarter of this year, Um holds 89.6% of A's shares, making him the largest shareholder. A has previously invested in movies such as 'Parasite' and 'Hero.'

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