Prosecutors Indict Top Recruiter of Ado International for 'Fraudulent Investment Scheme'

The prosecution investigating Ado International, a quasi-deposit company that illegally raised funds amounting to 440 billion won, has indicted the top recruiters involved in the crime.

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

On the 24th, the Criminal Division 4 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Lee Yuseon) announced that Jang, a top recruiter who conspired with Ado International CEO Lee and pocketed 24.7 billion won in investment funds, was arrested and indicted on charges of fraud and violation of the Act on the Regulation of Conducting Fund-Raising Business Without Permission.

According to the prosecution, Jang is accused of conspiring with Lee and others to receive approximately 24.7 billion won in investment funds over about 6,000 transactions and participating in quasi-deposit crimes worth about 446.7 billion won over approximately 140,000 transactions.

Additionally, the prosecution has indicted Kang, a computer assistant who received about 1.7 billion won over 302 transactions and participated in quasi-deposit crimes worth about 438.5 billion won over approximately 130,000 transactions, without detention.

The prosecution also filed additional charges against Lee, the head of the computer department, who participated in quasi-deposit crimes worth about 446.7 billion won over approximately 140,000 transactions with CEO Lee. Both individuals are already in custody and are undergoing trial.

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