Wealthy Stock Investor and Multi-Level Marketing Fraudster in Cheongdam-dong Forfeits Assets to the State Treasury... Recovery Amount Quadruples

Over 150 Billion Won in Criminal Proceeds Recovered Last Year
An Increase of 60.3 Billion Won Compared to the Previous Year

Cash, checks, and luxury watches seized from Lee Hee-jin's residence by the prosecution. [Image source = Seoul Central District Prosecutors' Office]

Prosecutors recovered more than 150 billion won in criminal proceeds last year, returning the funds to the national treasury. This amount is more than four times the previous figure of 12.7 billion won. Among the recoveries was 12.3 billion won from Lee Hee-jin, known as the "Cheongdam-dong Stock Rich," as well as the confiscation of hidden assets from the Gyeongbokgung graffiti offender. They also collected 13 billion won in fines from the main perpetrator of a 200 billion won investment fraud scheme targeting the elderly and North Korean defectors.

On the 22nd, the Seoul Central District Prosecutors' Office announced that the total amount of criminal proceeds recovered by prosecutors last year was 152.6 billion won, an increase of about 60.3 billion won compared to 2023. The annual recovery amount had been declining steadily from 110.3 billion won in 2021 to 99.3 billion won in 2022, and 92.3 billion won in 2023, before surging last year.

More than one-third of the criminal proceeds recovered by prosecutors were accounted for by the Seoul Central District Prosecutors' Office. As the only office within the prosecution with a dedicated Criminal Proceeds Recovery Division, the Seoul Central District Prosecutors' Office established a Criminal Proceeds Tracking Investigation Team last year and significantly reinforced its investigative personnel, recovering 55.1 billion won in criminal proceeds. The office has developed a "Criminal Proceeds Recovery Manual" and consistently conducts practical seminars and studies on recovery techniques. Additionally, in cooperation with the Enforcement Division 2 of the Central District Prosecutors' Office, they continuously monitor cases involving unpaid large fines.

A representative from the Seoul Central District Prosecutors' Office stated, "Methods of concealing criminal proceeds are becoming increasingly sophisticated. We plan to strictly crack down on money laundering crimes and thoroughly recover all profits so that not even one won is gained from crime."

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