Former CEO of Parasite Investment Company Arrested on Fraud Charges Involving Over 100 Billion Won

A former CEO of an investment company involved in the famous films 'Gisaengchung' (Parasite) and 'Yeongung' (Hero) has been arrested on charges of a multi-level financial fraud amounting to around 100 billion won.

On the 31st, the Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency announced that they had arrested Um Mo (41), the former CEO of investment advisory company C, on charges of fraud and illegal fundraising under the Act on the Aggravated Punishment of Specific Economic Crimes.

Um is accused of deceiving 47 victims from June 2018 to October last year by claiming that profits could be made through arbitrage trading of unlisted stocks, embezzling approximately 107.5 billion won. Investigations revealed that he promoted his past investment experience in famous films such as 'Gisaengchung' (Parasite), 'Yeongung' (Hero), and 'Gongjak' (The Spy Gone North) to attract investors. Additionally, he used a so-called 'Ponzi scheme' method, disguising money received from other investments as profits to pay back investors. The police believe that he initially generated legitimate profits but committed the crimes as the business became difficult.

The police plan to send seven employees who committed fraud alongside Um for prosecution without detention during Um's detention period. In April, the Financial Intelligence Unit (FIU) detected suspicious financial transactions between a corporation and Um's accounts and reported it to the police. In July, the police conducted raids on the investment advisory company's office and Um's residence in Ilsan, Gyeonggi Province, among other locations, to investigate.

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