Prosecutors Additional Indictment of CEO of 'Ado International' Affiliate in Similar Deposit Fraud Case

The prosecution investigating Ado International's approximately 440 billion won fraudulent quasi-deposit scheme has additionally indicted the representatives of Ado International's affiliates.

Seoul Central District Prosecutors' Office, Seocho-gu, Seoul. Photo by Jinhyung Kang aymsdream@

The Criminal Division 4 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Lee Yuseon) announced on the 20th that they arrested and indicted Park, the representative of an Ado International affiliate, on charges of fraud and violation of the Act on the Regulation of Conducting Fund-Raising Business without Permission. Additionally, Son, Ahn, and Choi, other affiliate representatives who conspired with Park and participated in the crime, were indicted without detention.

Park is accused of conspiring with Lee, the representative of Ado International, and embezzling approximately 36 billion won in investment funds over about 8,400 instances, and participating in a quasi-deposit crime involving approximately 440 billion won over about 140,000 instances.

The prosecution has indicted a total of 20 people, including Representative Lee, since September last year (12 of whom were indicted under detention).

A prosecution official stated, "We will continue to work closely with the police investigating the overall damage caused by Ado International to uncover the full extent of the crime and respond strictly."