30-07-2025
Crime ring swindles W2.6b from 2,500 people via fradulent sales online
A scam ring has been busted for a fraud scheme totalling 2.6 billion won ($1.88 million), in which they deceived some 2,500 people by pretending to sell products and pocketing the payments.
The cybercrime unit of the Gyeonggi Nambu Provincial Police Agency said Wednesday that they have transferred 15 individuals to the prosecution, 11 of whom are currently under arrest. The suspects are accused of carrying out a series of scams on online marketplace platforms for used products between October to January.
The suspects made false claims that they are selling used cars and appliances on the websites, having the victims send payments in advance and not sending the products. About 2.23 billion won of the illegally obtained profit has been seized by officials.
Police believe that the crime ring was well-organized in its operation, with separate members being in charge of withdrawal, money laundering and other various duties while a middle management handled the subordinates.
Officials are mulling whether to press charges for the organization of criminal groups in addition to the fraud charge.
Fraud, stipulated in Article 347 of the Criminal Act, is punishable by up to 10 years in prison or up to a 20 million won fine. Organizing a crime group is punishable under Article 114 of the same act by at least four years in prison.
The latter charge is often applied to voice phishing or other forms of fraud criminal groups, as gang violence is usually punished via the Punishment of Violence, Etc. Act, which has harsher punishments.
