Victim of 300 Billion Won Ponzi Scheme Appears on 'Ask Anything'

On the April 14 episode of KBS Joy's 'Ask Anything' (무엇이든 물어보살), a webtoon and web novel writer shared his harrowing experience as a victim of a massive Ponzi scheme in South Korea. The writer revealed that he lost approximately 58 million won in a scheme that totaled around 300 billion won.

During the show, the writer explained how he became involved in the scam. He sought the help of an insurance planner to manage his finances, believing he was investing in legitimate insurance products. However, he later discovered that the offered product was not from a reputable insurance company and had exorbitant interest rates—2.6% monthly and an astonishing 31% annually.

Host Seo Jang-hoon expressed disbelief at the high interest rates and questioned the rationale behind them. The writer then revealed that the company was registered as a loan business and had created a facade that allowed individuals to purchase bonds through intermediaries. He initially thought he was investing in bonds from a reputable manufacturing company, but soon realized that the entire operation was fraudulent and lacked any real substance.

Before the scam was uncovered in December of last year, the writer had received around 20 million won in monthly payments of about 1 million won. His shocking revelation about the abrupt end to these payments after the scam was exposed left the audience in disbelief.