Dispatch reveals famous actress and TV host was one of dozens deceived in pyramid scheme

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Expedited shipping Revealed actresses, talents and entrepreneurs Hyun Young He was one of dozens of victims of a pyramid scheme scam.

Dispatch’s latest exclusive report details how “B,” the operator of the famous Mama Cafe (an online forum for mothers), scammed millions of its members. “B” lied to the members, claiming that investing a certain amount of money would yield huge returns in just a few months, from 10% for him to a whopping 39% for him. The members called it ‘Gift Tech’, short for ‘Gift Card Tech’.

However, there was a clear pyramid scheme set up by “B”. “B” collects money from the first victim. Once “B” received the money from her second victim, she paid the supposed “profit” from that money to the first victim and the process was repeated. Total losses for victims amounted to 14.2 billion won (approximately US$10.9 million).

Hyun-young was tricked by ‘B’, but its name was not ‘gift tech’ but high-yield interest. She was told that if she gave the money to ‘B’, she would receive 7% interest each month and her principal would be paid off in 6 months. Hyun-young believed in “B” and she provided “B” with 500 million won (approximately US$385,000) as an “investment”.

Dispatch obtained a KakaoTalk chat log between Hyunyoung and ‘B’, indicating that the money had been transferred to ‘B”s bank account.

The right side contains 5 bank transfers from Hyunyoung to ‘B’, each worth 100 million won (approximately US$77,000).

“B”: I received the money.

Hyunyoung: I will send more ^^

「B」: lol If you could lend me more, thank you

Hyunyoung: It will be 500 million won (approximately US$385,000) in total.

“B”: Spend 500 million won (approximately US$385,000). I will send you some Birkin bags as interest.

Hyunyoung: Okay~^^

With an expected monthly interest rate of 7%, Hyun Young received 35 million won (about $27,000) each month for five months (from May to September) for a total of 175 million won (about $135,000). However, she could not get her original 500 million won (approximately US$385,000) back, meaning she lost 325 million won (approximately US$250,000). With a monthly interest rate of 7%, her annual interest rate is more than her 84%. The monthly interest rate of 7% is more than four times the legal interest amount.

Hyun-young sued ‘B’ for loan fraud, but the money was not returned. The prosecution indicted ‘B’ for fraud, but determined that ‘B’ had neither the intention nor the ability to repay the fraudulent money.

However, Hyun-young may not be the only one to commit crimes. Per the Interest Limitation Act, the maximum interest rate cannot exceed 20% per annum. Violation of this law can result in a fine of KRW 10 million (approximately US$7,700) or imprisonment of up to one year. Interest income can be taxed, so you also need to consider whether Hyun-young paid tax on the interest.

‘B’ took full advantage of Hyun-young and used her status as an entertainer to seduce even more victims. “B” used Hyunyoung’s bank transfer to secure trust from other members of Mama Cafe, causing at least one other member to get scammed.

“B” reassured me it was safe to invest in them because Hyun Young invested money in them.

‘B’, also known as Hyunyoung, in front of the other cafe members. I didn’t doubt it because Hyun Young funded it. I thought it was an easy way to make money.

– victim

‘B’ was also the guest of honor at the birthday party hosted by Hyunyoung. “B” also used Hyunyoung’s products as advertising material and promoted them on their social media accounts.

“B”’s birthday party prepared by Hyunyoung and other cafe members.

Ultimately, “B” ran Mama Cafe for three years and had 16,000 members. “B” is believed to have stolen a total of 46.4 billion won (approximately US$35.7 million) from 282 victims. Of those victims, 61 formally reported fraudulent activity, bringing the total to 14.2 billion won (approximately US$10.9 million).

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