Fraud like if you signed up for a private equity fund in a chat room
Be careful when impersonating CEOs and non-famous executives of securities brokerage companies
Enlarge photo Capture of a reading room where an account pretending to be the president of a securities firm is active
As reading room frauds on domestic and foreign stocks are on the rise, reading rooms posing as presidents of securities companies have recently encouraged members to invest.
According to the article of the Maeil Business Newspaper on the 10th, in a reading room with about 90 members, a person who pretended to be the CEO of B Securities said that if you invest in the “B Securities Private Placement Strategy No. 10”, you can make profits of up to 900%. They are deceiving the members.
A person posing as the representative of B Securities informs members that they need to open a dedicated account because the intelligent system is responsible for purchases under the guise of unified buying and distributed selling, and to contact them separately to make a deposit.
In a phone call with Maeil Business Newspaper, the CEO of B Securities said: “I don’t know why they are impersonating me. Last year there was an account impersonating me and I reported it to the police and the supervisory service financial but I only received a response that it would be difficult to resolve it quickly.”
Meanwhile, people active in outside businesses, such as securities company analysts or fininfluencers (influential people in the field of financial investments, a combination of finance and influence) have often been targeted for impersonation.
However, as even people who do not have a high level of public awareness, such as the CEO of B Securities, become targets of identity theft, concerns have increased that CEOs and executives of securities firms may be known for committing reading room fraud without their knowledge.
This reading room has a similar model to other reading rooms, deceiving people that the more money you invest, the higher rate of return you can get. The rate of return for investments over 15 million won is 20%, but for investments over 300 million won the rate of return is 100%.
In the reading room there are “windcatchers” who create an atmosphere that encourages investments by making comments that follow the management, and they also use the expression “private investment strategy” to make people believe that it is a private equity fund, increasing the risk that some members will actually deposit investment funds.
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