"Deceived by Private Jet and Luxury Photos"... Swindled 2.7 Billion Won for Lavish Lifestyle

Approached by Flaunting Wealth on Social Media
Offered "High Returns for Lending an Account"
Swindled 2.7 Billion Won in Just One Year

A Chinese woman who flaunted a luxurious lifestyle on social media-showcasing private jet travel and luxury shopping while pretending to be wealthy-has been revealed as a fraudster who deceived an acquaintance out of billions of won.

A Chinese woman who deceived acquaintances by claiming to be a second-generation chaebol and extorted billions of won was arrested on fraud charges. Jimu News, Southern Metropolis Daily

According to Chinese local media such as Jimu News and Southern Metropolis Daily on December 28 (local time), police in Changning, Shanghai, have criminally detained a woman surnamed Huang on fraud charges for impersonating someone with a false identity and swindling more than 13 million yuan (approximately 2.68 billion won) from an acquaintance.

Huang had been posting on social media about private jet trips, stays at luxury hotels, and designer shopping, introducing herself as a second-generation chaebol working at a well-known trust company and as an investment expert.

Deceived by the promise of "earning 300 million won"... Borrowed money from relatives and even took out bank loans

Huang's fraudulent activities came to light after the victim reported her to the police. The victim, surnamed Liu, became acquainted with Huang at a gathering, kept in touch, and built a relationship. Liu gained trust in Huang after seeing her social media posts.

Later, when Huang learned that Liu had an overseas account, she proposed transferring company funds worth 80 million yuan (about 16.54 billion won) from overseas into the country through this account. She persuaded Liu by suggesting they share a 4% profit if the transaction succeeded. Tempted by the prospect of earning 1.6 million yuan (about 330 million won) just by providing the account, Liu accepted without much suspicion.

However, over several months, Huang repeatedly demanded transfers, citing reasons such as "the profits must be settled in advance" and "legal fees are needed." The requested amounts gradually increased, and eventually, she even asked Liu to cover overseas travel expenses and luxury purchases.

Whenever Liu raised doubts, Huang would reassure her by saying, "I will repay everything once I receive my 2% share of the profits," "the company will settle everything," and "if you quit now, you will lose all the money you have put in so far."

The scam was exposed after Liu's relatives began pressing her for repayment. Under her husband's questioning, Liu confessed that, in order to meet Huang's demands, she had sent more than 13 million yuan in total-using not only her own money but also funds borrowed from relatives and some bank loans. Investigations revealed that all the money was spent on Huang's world travels, private jet use, and luxury purchases.

A Chinese woman who deceived acquaintances by claiming to be a second-generation chaebol and extorted billions of won was arrested on fraud charges. Zimu News, Southern Metropolis Daily

The chaebol heiress on social media was a fabrication... Both the trust company and fund transfers were fake

Upon receiving the report, the Changning police in Shanghai formed a dedicated investigation team. Police investigations revealed that Huang's image as a "second-generation chaebol" and "successful financier" on social media was entirely fabricated. There was no actual work related to a trust company, nor did any real fund transfers exist.

After securing evidence, police apprehended Huang, who had fled to another region. During questioning, Huang admitted to having no stable job and coming from an ordinary family background. She confessed that she planned the crime after meeting Liu, who was financially well-off. She also stated that all the expenses for creating her "upper-class image" on social media had been paid for with the money she swindled from Liu.

Huang is currently in criminal detention on fraud charges, and the police are investigating the detailed circumstances of the case and whether there are additional victims.