YouTube influencer sentenced to 7 years for 4.69 billion won fraud

A prominent YouTuber with approximately 570,000 subscribers has been sentenced to seven years in prison for large-scale fraud and extortion. The individual, a used car dealership representative, was found guilty of defrauding victims of approximately 4.69 billion won through various schemes.

According to the Seoul Central District Court, the defendant exploited loopholes in the used car installment loan system by selling vehicles with hidden accident histories as if they were in normal condition. This allowed him to secure roughly 3 billion won in loans using the names of acquaintances. Additionally, he was involved in obtaining over 1.6 billion won in loans by falsely claiming he would profit from high-end foreign car trades.

The court also found that the defendant leveraged his social media influence to extort over 600 million won from victims. He reportedly threatened to upload videos exposing the criminal records of those who demanded their investments back or refused to pay him.