A group of fraudsters has just been secured by the Korean police because they have cheated investors up to billions of won.

On May 10, the Seoul Yongsan Police Station dragged Mr. Kang and two of his colleagues were named as fraud suspects after they had previously claimed they could hold BTS concerts overseas.

The fraudulent act which caused a 5.5 billion won (or about 66.7 billion rupiah) damage to some investors. The investors who are from small and medium companies are persuaded to invest.

They convinced investors by claiming to have exclusive rights to hold BTS concerts overseas such as Hong Kong and Indonesia. In addition they also even gave fake contracts containing the official signatures of BTS members.

Two months after the contract was signed, investors still did not get any news about the preparation of the concert, which only later realized that the signed documents were fake, thus making investors immediately make a report.

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