SEOUL: South Korean police said Thursday (Aug 29) that they have arrested the leader of a cryptocurrency scam operation that defrauded investors of 16 billion won (US$12 million) and who even underwent plastic surgery to avoid capture.
The man, in his 40s, was apprehended earlier this month for deceiving 158 victims between November 2021 and June 2022 by promising a monthly return of 18 percent on investments in a so-called cryptocurrency mining business, according to the Seoul Metropolitan Police Agency.
Police said the victims lost amounts ranging from 1.2 million to 250 million won.
The man has been on the run for 10 months after failing to appear at his pre-trial detention hearing last September.
The court issued an arrest warrant and the police began tracking him down.
Authorities said he managed to evade investigators by altering his appearance through plastic surgery on his eyes, nose and face contour -- costing about 21 million won -- and by wearing wigs.
The police said they were able to capture the man in an apartment in Guri, Gyeonggi Province, through surveillance footage, phone records and internet search histories. - The Korea Herald/ANN
