Mr. A is accused of stealing about 350 million won by deceiving 16 acquaintances in Busan, Ulsan, and Gyeonggi Province from 2021 to 2023 that they would pay 20% of their investment a month if they invested in mask factories.
He is also accused of presenting an acquaintance's ID for the purpose of hiding his identity while avoiding police inspections.
Mr. A, who established a corporation in the name of an acquaintance, was found to have intercepted the investment with a so-called credit card gang, which induces cashless victims to pay by card.
According to the police investigation, A had a criminal record of fraud, and since 2021, nine wanted cases have been issued on charges of fraud and other charges.
Mr. A, who had been using a mobile phone under another person's name and had been continuing his crime by avoiding the investigation agency's tracking, was arrested on the 28th of last month by the police who were hiding in Singok-dong, Uijeongbu-si, Gyeonggi-do, and arrested two days later.
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