key takeaways
- A South Korean man launched a $ 60 million Ponzi plan, targeting more than 2,200 investors under the guise of AI and Crypto businesses.
- The scam promised 300% returns and mainly influenced victims of the age of 50–70, many of which were unfamiliar with crypto technologies.
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According to a Friday report by Yonhap News Ageni, the South Korean police dropped a person in the 60s for a $ 60 million Ponzi plan and a man to proprives for a prevailing fraud convection.
The suspect was identified as Mr. A, and six companions allegedly cheated investors between October 2020 and January 2022. Crypto.
Promising 300 percent returns, the group saw more than 2,200 investors, with personal contribution from about $ 770 to $ 770,000. Operation followed a specific Ponzi scheme model, using the funds of new investors to pay the returns to the earlier participants, which was abolished the scheme.
Sri to handle Finance, IT, Marketing and Investors Repetition, to handle various aspects of operations and various aspects of operations. The police started an investigation after resumption of complaints in September 2022, leading to a two -month manhunt when the suspect rejected before his hearing.
The arrest revealed that Mr. A had been serving two-poor sensation for a Simila fraud scheme from July 2021 when he launched this new operation.
A police spokesperson said, “Ponzi schemes are crimes that deserve strangers, as they are as a result of many videos and disqualify the loss,” a police spokesperson said, “The age of many victims was unfamiliar with 50–70 and 50–70A or cryptocysts.”
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