DA LAT, Vietnam — A South Korean national, Hong Sangwoo, 38, was arrested in Da Lat on Wednesday after being wanted internationally for orchestrating a multimillion-dollar investment scam that targeted fellow South Koreans.
Vietnamese police apprehended Hong under an international arrest warrant issued by Interpol in September 2024. He was reportedly part of a Cambodia-based fraud ring, where he played a key role in recruiting, training, and managing Korean-speaking members. He also served as a Korean translator for Chinese members of the syndicate.
The group impersonated British asset management firm Janus Henderson Group and lured victims via the messaging app KakaoTalk. Victims were invited to join fake investment chat rooms and were encouraged to download a fraudulent stock trading app. Promising “high profits and absolute safety,” the scheme convinced victims to invest large sums.
Authorities estimate the scam defrauded victims of around 7 billion won (US$5.2 million) in South Korea.
Following intelligence that Hong was hiding in Vietnam, Interpol coordinated with local law enforcement to carry out the arrest.
Hong now faces extradition and prosecution in South Korea on charges of fraud.
