Seoul Requests Interpol Warrant Over False Claims Regarding ‘Treasure Ship’

Seoul Police have requested an international arrest warrant for the founder of firm based in Singapore after initiating an investigation into the firm and a South Korean start-up over false claims of finding a long-lost Russian “treasure ship”.

Shinil Group, which is based in Seoul, announced in July that it had discovered the wreckage of imperial vessel named Dmitri Donskoi off South Korea’s east coast, saying that the ship was believed to contain coins and gold bullion which is worth USD $130 billion.

However, since then, the firm has faced questions regarding if the announcement was targeted at artificially boosting share prices, or attracting investors to buy a digital currency which Shinil Group had recently started to issue.

Following this, financial regulators released a probe into the firm in South Korea, saying that the founder of the Singaporean Shinil Group, with the surname Ryu, was also wanted in connection with fraud allegations back in 2014.

According to sources, the police in Seoul have raided the offices of the firm in South Korea. This is not long after the police announced that they were investigating the firm on suspicion of fraud and had banned the senior officials of the company from leaving the country.