Security News > 2020 > June > Anatomy of a business email scam: FBI dossier details how fraudster pocketed $500k+ by redirecting payments

Kenenty Hwan Kim, aka Myung Kim, 64, pleaded guilty [PDF] in a Texas court this week to one count of conspiracy to commit money laundering.

Using an email address very similar to Chance's, Kim asked Solid Bridge to send a $210,000 check for an invoice to an address in Washington state.

Kim registered a business called Chance Contracting in Washington, and used that paperwork to amend his bank account as doing business as Chance, allowing him to deposit the check after it arrived.

From there, Kim and his cohort went to the bank, and shifted $220,000 of the money to Kim's account via a cashier's check, as well as make a $30,000 cash withdrawal, of which Kim himself took a $10,000 cut.

In addition to the scams, Kim was also said to have run more than three dozen credit card fraud scams in which he set up his own payment processor and, using stolen credit card numbers, racked up and pocketed more than $200,000 in phantom charges.

News URL

https://go.theregister.com/feed/www.theregister.com/2020/06/03/email_scammer_500k/