SEOUL, July 15 (Korea Bizwire) – Police said Friday that Park Yoo-chun, the troubled member of K-pop boy band JYJ, is clear of sexual assault allegations but is being charged with prostitution and fraud. The 30-year-old actor-singer has been mired in a scandal as four different women, all working at local bars, lodged complaints against [...]
SEOUL, June 22 (Korea Bizwire) – Korea’s Financial Supervisory Service (FSS) revealed Tuesday that it has decided to implement a ‘Paparazzi Policy for Financial Malpractice’, through which informants can receive up to 10 million won ($8,600) in rewards. The policy will be operated until year’s end in order to dissuade unlawful financial activities, and encourage [...]
SEOUL, June 15 (Korea Bizwire) – South Korea’s state audit agency said Wednesday it has detected accounting fraud worth 1.5 trillion won (US$1.27 billion) at Daewoo Shipbuilding & Marine Engineering Co., adding that its main creditor also failed to provide appropriate surveillance and management of the firm. South Korea’s Board of Audit and Inspection (BAI) [...]
SEOUL, June 10 (Korea Bizwire) – A ‘black money’ con artist from Liberia has been arrested for embezzling 1.2 billion won ($1 million) from multiple victims across Seoul. A black money scam is one in which con artists fraudulently obtain money from a victim by persuading them that piles of banknote-sized paper are actual money dyed [...]
SEOUL, Feb 4. (Korea Bizwire) – A woman referred to as ‘A’ (49), who kept her husband’s dead body in their house and received his pension for seven years, has been found not guilty of committing fraud. The Seoul District Court ruled that ‘A’ was not guilty, as the date of her husband’s death was [...]
SEOUL, Nov. 11 (Korea Bizwire) – A South Korean mixed martial arts fighter has been indicted on charges of fraud, prosecutors said Wednesday. Choi Hong-man is accused of not paying back HK$710,000 (US$91,600) to an acquaintance. Prosecutors have said Choi borrowed the money from his acquaintance in Hong Kong in 2013 to buy watches for [...]
SEOUL, Oct. 15 (Korea Bizwire) – Two teenage students who studied abroad in China were caught after they were involved in a voice phishing crime in which they attempted to steal money from the elderly. According to law enforcement officials, Koo (aged 19) and his friend broke into an elderly woman’s house and stole 17,460,000 [...]
Seoul, July 13 (Korea Bizwire) – Who do you think are the main victims of voice phishing? You would be very wrong if you thought the elderly were most susceptible to being deceived. The younger demographic tend to be the main targets of tele-financial fraud, if anything, and they also tend to be the offenders. [...]
SEOUL, Dec. 12 (Korea Bizwire) — The criminal prosecutors of the Seoul Northern District Public Prosecutor’s Office said on December 11 that no charge will be made against Bae Yong-joon, a Korean actor, who was accused of fraud for selling red ginseng under an exclusive basis. The plaintiff who owns a company selling dietary supplement [...]
LONDON & ATLANTA, March 21, 2014 (Korea Bizwire) - A quarter of insured motorists think that it is acceptable to mislead insurers to reduce their motor insurance premiums, according to a new study from LexisNexis. Released today by LexisNexis® Risk Solutions, the research found that 40% of UK motor insurance policy holders believe the cost [...]