Lucky Nine investment fraud investigation

Overview

Thai immigration police arrested a South Korean national, identified as Mr. Lim, in Nonthaburi province. Lim was a high-ranking official in the ‘Lucky Nine’ investment fraud organization, which allegedly operated 12 centers in South Korea.

Authorities claim the organization used a multi-level marketing system under the guise of a ‘casino business’ to solicit funds. Instead of legitimate investments, funds were reportedly diverted to overseas online casinos or used in a Ponzi-style arrangement to pay earlier investors. More than 100 victims have been identified, with estimated damages exceeding 10 billion Won. Lim, who had been staying in Thailand past his visa expiration, is expected to be extradited to South Korea following legal proceedings.

Entities

Mr. Lim · Lucky Nine · Interpol · Incheon District Court · Thai Immigration Police

Timeline

1 day ago

[CRIME] 2 sources
South Korean ringleader sentenced for 10 billion won used car loan fraud
A ringleader received seven years in prison for a 10 billion won fraud scheme involving the sale of damaged vehicles as functional used cars to secure fraudulent loans from 11 capital companies.
7 days ago

[CRIME] 4 sources
South Korean fraud suspect arrested in Thailand
Thai authorities arrested a high-ranking member of the “Lucky Nine” fraud syndicate in Nonthaburi, involving over 100 victims and 10 billion Won in losses.

Sources

chiangraitimes.com · joongboo.com · kyeonggi.com · thethaiger.com · wochenblitz.com · x-bomberth.com