Football Star Lee Chun-soo Under Police Investigation for Fraud Allegations Involving Hundreds of Millions of Won

Former national football team player Lee Chun-soo is facing a police investigation following allegations of fraud amounting to hundreds of millions of won.

The Jeju Provincial Police Agency has initiated an investigation after receiving a formal complaint against Lee, which reportedly includes claims of financial transactions for living expenses and an invitation to invest in foreign exchange futures trading.

According to reports by NoCut News, the complainant, identified as A, a long-time acquaintance of Lee, stated that in November 2018, Lee requested a loan for living expenses, promising repayment by the end of 2023, citing his YouTube channel and football academy operations.

A claims to have transferred a total of 132 million won to Lee's spouse's account across nine instances until April 2, 2021. However, contact was reportedly lost around the fall of 2021, and no repayment was made by the promised deadline.

Furthermore, A alleges that around April 2021, he was persuaded to invest 500 million won in a foreign exchange futures trading platform managed by an acquaintance of Lee, with promises of monthly profit sharing and principal return. To date, only about 160 million won has allegedly been returned.

In response, Lee's representatives have acknowledged receiving the money but deny any fraudulent intent, claiming A had stated, "Just use it" at the time.

Lee's side argues that while the money was received, there was no intent to deceive, thus negating the fraud charges. They have also indicated a willingness to negotiate a settlement, stating, "We have the intention to repay." The allegations regarding the foreign exchange investment offer have been completely refuted as "entirely groundless."

The core of the dispute lies in whether the funds were a gift ('증여') or a loan ('차용'). Police are currently verifying the facts by examining both parties' statements, remittance records, and the flow of investment funds.

Lee Chun-soo, a key player in South Korea's historic 2002 World Cup semi-final run, retired in 2015. He has since been active in broadcasting and manages the YouTube channel 'Richunsoo' (approximately 780,000 subscribers), alongside operating his football academy.

Korean netizens expressed disappointment, with comments like "It's sad to see this happen to Lee Chun-soo, whom I cheered for," and "I hope the truth comes out quickly," and "Let's wait for the legal judgment."