'4.3 Billion Won Investment Fraud' Venture Capital CEO Repatriated to Korea After 20 Years Fleeing in China

Close Cooperation Between Police Liaison Officers and Chinese Public Security Officials

Police Agency building.

[Asia Economy Reporter Lee Gwan-joo] It has been confirmed that the CEO of an investment firm who embezzled 430 billion KRW from hundreds of people under the pretext of venture company investment funds was repatriated to Korea after 20 years of fleeing abroad.

According to the National Police Agency on the 5th, the police, in cooperation with the Beijing Public Security Bureau in China, arrested Kim Mo (52) in Harbin, China, and repatriated him to Korea on May 20th.

Kim is suspected of raising about 430 billion KRW from hundreds of people under the pretext of venture company investment funds while serving as the CEO of Ace Venture Capital Co., Ltd. from May to December 2001. It is known that Kim fled to China at the end of the same year.

The police explained that they were able to arrest Kim after collecting intelligence on his whereabouts from the Korean community in Shenyang and continuously consulting with the Chinese public security authorities.

A police official said, "Kim was a so-called 'front man,' and his accomplices were already caught and detained long ago," adding, "After repatriation, he was investigated at a police station in Seoul, and since there are other fraud cases, his custody has been transferred to a police station in Incheon."