A transnational crime syndicate accused of orchestrating romance scams, cryptocurrency fraud, and “no-show” schemes out of Pattaya, Thailand, has been dismantled, South Korean police announced. Authorities say the group swindled victims out of more than 20 billion won (about $14.4 million).
The Seoul Metropolitan Police Agency’s Financial Crimes Investigation Unit confirmed on Sunday that 25 members of the voice-phishing ring, known as “Lungeo Company”, were indicted on charges including participation in a criminal organization and violations of Korea’s Act on the Aggravated Punishment of Specific Economic Crimes. Of those, 21 suspects remain in custody.
The syndicate’s name combines the Chinese words for “dragon” (lung) and “older brother” (geo), a nod to the alias “Jarong” used by the alleged ringleader. While the 25 indicted members were arrested in Korea, nine others-including Jarong himself-remain in Thai custody pending extradition.
Investigators allege the group defrauded 878 Koreans out of 21 billion won between July 2024 and July 2025. Operations were divided into specialized teams, each employing different scam tactics:
- Romance scams: Members used stolen social media photos to pose as potential partners, luring victims with fabricated promises such as free airline tickets if they first deposited money on fraudulent websites.
- Crypto scams: Using leaked customer data from a lottery recommendation site, scammers promised refunds of membership fees or compensation for data breaches, tricking victims into buying worthless digital coins.
- No-show scams: Fraudsters impersonated military units and bulk buyers, placing large orders and demanding specific products from sellers before disappearing with the money.
- Agency impersonation scams: Some posed as prosecutors or financial regulators, telling victims their bank accounts had been linked to crimes and demanding payments.
Police said mid-level managers enforced strict control over recruits, limiting personal freedoms and even confiscating cellphones. Members who defied orders or angered the ringleader were reportedly assaulted with weapons.
The crackdown began in June, when Thai police raided a Pattaya resort and detained 20 members, who have since been extradited to Korea. Subsequent cooperation between Korean and Thai authorities led to the arrest of nine more suspects, including Jarong and a key team leader.
Authorities warn the investigation is ongoing and that additional cells tied to Lungeo Company may still be operating in Thailand. Police urged the public to remain vigilant against online fraud, cautioning that “everything on the internet can be fabricated.”
