Prosecutors Arrest and Indict Gangster Who Aided CEO in Fleeing After 1.7 Billion Won High-Profit Bait Fraud

An organized crime member accused of aiding the escape of the CEO of the fraudulent investment company ‘Ado International’ and extorting money from subsidiary company CEOs through threats has been brought to trial.

Seoul Central District Prosecutors' Office, Seocho-gu, Seoul. / Photo by Jinhyung Kang aymsdream@

The Criminal Division 4 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Lee Yuseon) announced on the 24th that Yang, an organized crime member, was arrested and indicted on the 21st on charges of aiding a criminal's escape and extortion.

According to the prosecution, Yang is accused of hiding Lee (indicted and detained), the CEO of Ado International who was under police investigation in August this year, to prevent his capture.

He is also charged with threatening the CEOs of Ado International’s subsidiaries between July and August this year and extorting approximately 630 million KRW worth of vehicles, cash, and other assets.

The prosecution indicted Lee in September this year while in custody on charges including fraud, for defrauding about 1.7 billion KRW in investment funds from around 80 victims by luring them with high returns.

The prosecution stated, "We will closely cooperate with the police investigating the overall damage caused by the company to uncover the full extent of the crimes and handle the case strictly."

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