'IU Arrested and Sent to Prosecution for Embezzling 40 Million Won in Psy Concert Ticket Scam'

A man in his 30s who embezzled about 40 million won by claiming to sell concert tickets of famous singers such as IU and Psy at a low price was handed over to the prosecution.

On the 21st, the Songpa Police Station in Seoul announced that on the 6th, they had sent Mr. A, a man in his 30s, to the prosecution under arrest on charges of fraud. The police applied for and obtained an arrest warrant for Mr. A earlier this month.

Mr. A is suspected of embezzling money by claiming to sell concert tickets of famous singers at a cheap price. He promoted on social networking services (SNS) that he was selling tickets cheaply to people looking for tickets. Initially, transactions were successfully completed, but he suddenly disappeared, causing damage. The total amount of damage reached 40 million won.

Meanwhile, with the lifting of COVID-19 quarantine measures and the warming weather, cases of concert and festival ticket fraud are rapidly increasing. According to a survey by the Korea Music Label Industry Association, among respondents who have purchased scalped tickets, 26.1% reported having been victims of transaction fraud.