A South Korean court has sentenced members of an overseas investment fraud ring that operated a large-scale stock-tipping scam in Cambodia, deceiving victims by posing as professional financial experts.
On the 26th, Presiding Judge Kim Mi-kyung of the Daegu District Court’s Criminal Division 8 handed down prison terms to two defendants charged with fraud and related offenses. Defendant A, in their 20s, received a sentence of three years and six months in prison, while Defendant B, in their 30s, was sentenced to three years.
According to the court, A joined the criminal organization in Cambodia in February last year and impersonated roles such as a fund manager and investment advisor. Between April and June, A defrauded 26 victims of more than 2.9 billion won by providing false stock investment tips. B was also found guilty of using similar tactics in Cambodia in May, embezzling more than 900 million won from 16 victims.
Judge Kim stated that the defendants operated within a clearly organized structure, dividing roles and employing sophisticated and deceptive methods to target a large number of victims. The court emphasized the seriousness of the social harm caused, noting that the defendants failed to compensate victims or reach settlements despite the scale of the financial losses.
