Prosecution Indicts 535 in Multi-Victim Crime Cases... Damages Reach 5.49 Trillion Won

Rise in Unauthorized Financial Solicitations and Pyramid Schemes
Prosecution Warns: "Do Not Respond Hastily to Unrealistic High Returns"

The prosecution has conducted an intensive investigation into 55 cases of multi-victim crimes, including pyramid schemes and "leading rooms" (chat rooms recommending financial product investments), resulting in the arrest of four individuals and the indictment of 535 people. The Seoul Central District Prosecutors' Office has been conducting these investigations with support from the Supreme Prosecutors' Office's Multi-Victim Crime Investigation Team since September of last year.

On January 8, the Seoul Central District Prosecutors' Office announced that it had assigned 17 prosecutors and 27 investigators from five criminal departments, including the 4th and 7th Criminal Divisions and the Supreme Prosecutors' Office's special investigation team, to handle 55 cases that had been prolonged for six months to over two years. The total amount of damages is estimated to be approximately 5.4983 trillion won.

According to the prosecution, the number of multi-victim crime cases increased from 2,158 in 2021 to 3,727 in 2024, marking a 72.7% rise. However, the case disposition rate dropped from 34% to 24.8%. Among multi-victim crime cases, fraudulent activities involving unauthorized financial solicitation and pyramid schemes continue to show a steady upward trend.

The prosecution stated, "By promising unrealistic high returns, these schemes are luring economically vulnerable citizens," and added, "Investment solicitations offering unrealistic rates of return are likely to be fraudulent, so people should not respond hastily."