Ex-South Korean Soccer Star Lee Chun-Soo Sued for Multi-Million Won Fraud Scheme

Fraud Charges Filed Against Former National Football Star Lee Chun-Soo

Lee Chun-Soo, a 44-year-old former player for the South Korean national football team, has been officially charged with fraud by the Jeju Provincial Police Agency. This serious legal action stems from allegations concerning significant sums of money, reportedly in the hundreds of millions of won.

Nature of the Allegations

The accusations have arisen from claims of unpaid loans and a suspicious investment scheme involving a longtime acquaintance. The case came to light following a complaint submitted to the Seogwipo Police Station in October. The accuser, identified only as A, claims to have lent Lee a total of 132 million won (approximately $92, 000) between November 2018 and April 2021, ostensibly for living expenses.

According to A’s assertion, Lee promised to repay the entire loan by the end of 2023, mentioning plans to generate income through a YouTube channel and a soccer academy. Despite receiving the funds in nine separate transactions, the accuser alleges that Lee severed communication around the fall of 2021, failing to repay any portion of the debt even as the proposed income sources were established.

Investment Claims Unfold

The complaint outlines a separate investment issue where, in April 2021, Lee allegedly persuaded A to invest 500 million won (around $348, 000) in a foreign exchange futures trading platform. The investment was framed with promises of monthly profit distributions and a guaranteed return of principal. A trusted another acquaintance, referred to as B, to handle the investment based on Lee’s recommendation. Unfortunately, only 160 million won (approx.$113, 000) was returned, and payments of promised profits halted after just two months.

Lee’s Response

Lee’s legal representatives have firmly denied the fraud allegations while acknowledging that money was received. They argue that the funds were willingly provided by the accuser during a time when A was financially secure, without any conditions attached. The defense stresses that fraud, defined as intentional deceit, was absent in this case. Furthermore, they categorically denied any involvement in promoting the investment scheme.

Lee’s team has also expressed his readiness to repay the contested funds. As of now, the Jeju Provincial Police have concluded initial questioning of the complainant as of October 25 and are continuing their investigation into the matter.

Lee’s Career Highlights

Lee Chun-Soo gained fame as a key player in South Korea’s 2002 World Cup squad, which made a remarkable run to the semifinals. Following his retirement from professional football in 2015, he shifted his focus to soccer administration and media. He currently operates a successful YouTube channel with around 780, 000 subscribers and runs a soccer academy located in Seogwipo, Jeju Island.