Former national soccer team player Lee Chun-Soo, 44, has been formally charged with fraud by the Jeju provincial police agency following allegations involving hundreds of millions of won.
The case centers on unpaid loan claims and a questionable investment scheme carried out by a longtime acquaintance
According to a complaint filed at the Seogwipo Police Station in October, the accuserlisted only as A, it states that Lee borrowed a total of 132 million won (~$92,000) between November 2018 and April 2021 for living expenses. Lee reportedly promised to repay the entire amount by the end of 2023, citing plans to launch a YouTube channel and a football academy as sources of future income. The complainant transferred the money in nine separate transactions, but claims Lee severed contact around fall 2021 without repaying any portion of the debt, even after establishing promised sources of income.
The complaint also addresses a separate issue related to investments. In April 2021, the accuser says Lee encouraged a 500 million won (~348,000) investment in a foreign exchange futures trading website, guaranteeing monthly distributions of profits and guaranteed return of capital. The complainant transferred funds to another acquaintance identified as B, believing that B was operating the platform on Lee’s recommendation. Only 160 million won (~113,000) of the capital was returned, and the payment of profits stopped after two months.
Lee’s legal representatives denied fraud accusations while acknowledging receipt of money. According to his statement, the complainant paid the funds voluntarily during a period when A was financially stable, without conditions. They argue that fraud requires intentional deception, which they said was absent. Regarding the investment solicitation, Lee’s side categorically rejects involvement, stating that it neither introduced the trading platform nor encouraged investments on it.
Representatives also indicated Lee’s willingness to return the disputed funds. The Jeju Provincial Police Agency completed the initial interrogation of the complainant on October 25 and is currently conducting further investigations.
Lee stood up prominence as a key member of South Korea’s 2002 World Cup squad that reached the semi-finals. After retiring from professional football in 2015, he moved into football administration and television work. He currently runs a YouTube channel with around 780,000 subscribers and runs a football academy in Seogwipo, Jeju Island.
