⏱ 2 min read
Sangsoo Kim, a 56-year-old South Korean national, pleaded guilty to masterminding a million-dollar bank fraud scheme in Oakland, California. Between November 2023 and July 2025, Kim used a fraudulent passport to open 72 fake bank accounts, executing a check-kiting scheme that resulted in a loss of $1,195,795.96. After being deported for a previous felony fraud offense, Kim illegally re-entered the United States and carried out the scheme.
Kim’s guilty plea included four felony counts: Bank Fraud, Illegal Re-Entry, False Use of a Passport, and Fraudulent Use of One or More Counterfeit Access Devices. As part of the plea agreement, Kim agreed to forfeit over $144,000 in cash seized in relation to his crimes.
The case is being prosecuted by Assistant U.S. Attorney Emily R. Dahlke, with the assistance of Jessie Chelsea. Kim’s sentencing hearing is scheduled for October 7, 2026, before U.S. District Judge Haywood S. Gilliam, Jr. He faces a maximum statutory penalty of 30 years in prison and a $1 million fine for his Bank Fraud conviction.
The investigation and prosecution of Kim’s crimes demonstrate the commitment of law enforcement agencies to combating financial crimes and protecting the integrity of the US banking system. Kim’s sentence will be determined by the court after consideration of the US Sentencing Guidelines and federal statute governing the imposition of a sentence.
📋 Key Facts
- Crime: Fraud & Financial Crimes
- Defendant: California
- Location: CA
- Source: DOJ Press Release
