A criminal organization that laundered approximately 120 billion won in voice phishing proceeds through dummy bank accounts opened under shell corporations established by recruiting low-income elderly individuals has been apprehended by the police.
The Seoul Metropolitan Police Agency's Criminal Mobile Unit announced on the 16th that they have apprehended 31 suspects on charges including organized crime activities, and among them, six individuals including domestic ringleaders A and B, who are father and son, have been detained and sent for prosecution. The photo shows dummy bank accounts created by a ghost company formed by recruiting low-income elderly individuals. Photo by Seoul Metropolitan Police Agency
The Seoul Metropolitan Police Agency's Criminal Mobile Unit announced on the 16th that they arrested 31 suspects on charges including organized crime activities, and among them, six individuals including domestic leaders A and B, who are father and son, were detained and sent to prosecution.
According to the police, from October 2019 to April this year, the suspects recruited low-income elderly individuals and established 114 shell corporations. They then created a total of 485 dummy bank accounts, through which they laundered 122.8 billion won in voice phishing proceeds.
The investigation revealed that the suspects targeted elderly people in the Gyeongnam region who had no income, luring them by promising a "monthly salary" as an incentive and designating them as corporate representatives. To prevent members from leaving the organization, they paid monthly salaries of 1.5 to 2 million won and provided holiday bonuses. During this process, corporate representatives also recruited former colleagues and acquaintances by telling them they could earn money by setting up corporations.
When withdrawing large sums of cash, intermediaries disguised as company employees would accompany the shell corporation representatives to the bank in order to avoid suspicion and make the transactions appear as legitimate corporate business.
The police seized approximately 280 million won in cash, checks, and valuables, and secured a pre-indictment preservation order for about 3.4 billion won in criminal proceeds. They are also pursuing the confiscation of an additional 4.2 billion won remaining in the dummy accounts. Furthermore, the police have requested Interpol red and silver notices for overseas leader C, who directed the laundering of criminal proceeds from the Philippines.
A police official stated, "Lending your bank account or establishing a corporation under the lure of stable income can be exploited for voice phishing," adding, "We will continue to crack down on money laundering organizations that are essential to multi-victim fraud schemes such as voice phishing, and will relentlessly track and confiscate or preserve criminal proceeds before indictment."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
