South Korean police arrest nine people, including the ringleader, in massive investment fraud case involving the misuse of social media

South Korean police have arrested nine people, including the ringleader, on suspicion of defrauding about 3.7 billion won (about 400 million yen) by posing as a fake investment company through social media.
The company announced that it had arrested a man in his 40s and other suspects in Japan on suspicion of fraud. From March to April this year, Mr. A and his group sent out mobile phone email advertisements from their Cambodian office.
The company has deceived people into installing a fake stock investment app, claiming to be from a "famous overseas investment company." It is suspected of defrauding people of their investment money by making it look like stock trading is actually taking place.
The fraud has left 53 victims, with the total amount of money stolen estimated to be 3.7 billion won. Police say the group is believed to have conspired with a Chinese person in Cambodia to
The investigation is ongoing as dozens of Koreans in the area may have been involved in the crimes. After committing multiple crimes earlier this year, Mr. A and his associates returned to Korea and were arrested thanks to the swift action of the investigative authorities.
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