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South Korean police have detained 215 people in the case of alleged fraud of an investment company run by an unnamed video blogger. This is reported by local media.
According to the investigation, from December 2021 to March 2023, the author of a YouTube channel with 620,000 subscribers ran a fake consulting firm.
Users were offered to invest in 28 tokens, including those issued by the company itself, and were promised a 20x profit. Most of the coins had no real value, the appearance of an increase in quotes was created through Pump & Dump manipulations.
Victims were selected from among the viewers of the YouTube channel who registered for paid lectures and left contact details. They were persuaded to sell real estate and take out loans to increase investments.
In total, more than 15,000 people were affected by the scheme - they gave the company at least 325.6 billion won ($232 million).
At the moment, 12 suspects remain in custody, including a blogger who previously attempted to escape to Australia through Hong Kong and Singapore.
The investigation is ongoing.
Source
According to the investigation, from December 2021 to March 2023, the author of a YouTube channel with 620,000 subscribers ran a fake consulting firm.
Users were offered to invest in 28 tokens, including those issued by the company itself, and were promised a 20x profit. Most of the coins had no real value, the appearance of an increase in quotes was created through Pump & Dump manipulations.
Victims were selected from among the viewers of the YouTube channel who registered for paid lectures and left contact details. They were persuaded to sell real estate and take out loans to increase investments.
In total, more than 15,000 people were affected by the scheme - they gave the company at least 325.6 billion won ($232 million).
At the moment, 12 suspects remain in custody, including a blogger who previously attempted to escape to Australia through Hong Kong and Singapore.
The investigation is ongoing.
Source
