“Development of non-flammable electric vehicle batteries” deceived investors and stole 66.1 billion won

A group of people who defrauded investors by claiming to have developed an electric vehicle battery that does not catch fire and stole 66.1 billion won was handed over to the Public Prosecution Service.

The Chungbuk Police Agency's Anti-Corruption and Economic Crime Investigation Unit announced on the 10th that it had sent 16 people, including Mr. A, without detention on charges of fraud and fraud.

Mr. A and others are suspected of stealing 66.13 billion won from about 33,000 investors between October 2024 and July of last year.

They were found to have deceived investors by saying that their company had developed an electric vehicle battery that does not catch fire and that the company would soon be listed.

In addition, it was found that the company's representative, Mr. A, is close to US President Donald Trump and encouraged investment by promoting that exports to the US would be successful in the future.

According to the police investigation, Mr. A and others established a false corporation for the purpose of stealing investment funds and even manipulated a fake battery demonstration video to lure investors.