Call Now For a Free Consultation:
(614) 532-4576
Nationwide Representation

Kyong Ho Kim Sentenced to 8 Years for Alleged Investment Fraud

According to an article from Delaware Online, Kyong Ho Kim, of Newark, was recently sentenced to eight years in prison for his part in an alleged investment scam that took millions from investors. Kim ran the alleged scam through his Parthenon Investment company, and many of the alleged victims of the scam shared a Korean heritage with Kim. According to prosecutors, Kim sent out fake financial statements to investors that showed investment growth while, in reality, he was pocketing investor cash for himself. Kim pleaded guilty to money laundering and wire fraud related to the case in September of last year.

Although it is believed that Kim probably turned to fraud after running into personal financial issues, including the loss of a job and problems with gambling, prosecutors in the case say that the money Kim brought in with the scam far exceeded the amount he needed to get back on his feet. In fact, prosecutors allege that 45-year-old Kim used investors’ cash to pay for a luxury lifestyle that included a yacht, a house on Chesapeake Bay, expensive cars, world travel, and a mistress.

Seven of the alleged victims of the investment scam appeared in court and told stories of the financial devastation they experienced as a result. Some victims stated that Kim was like a member of the family, and they say that he manipulated their trust in order to take their money. Victims told stories of sleepless nights, ruined retirement and college plans, and at least one victim said that “My American dream is gone right in front of my eyes.”

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Atlanta Office

945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
Columbus Office

614-224-6000
305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

310-905-8688
2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

216-600-1355
4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

248-817-8214
41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram