Oakland, California – In a shocking turn of events, Sangsoo Kim, 56, a national of South Korea, pleaded guilty to a string of serious financial crimes in federal court yesterday.
The charges against Kim include Illegal Re-Entry, False Use of a Passport, Fraudulent Use of One or More Counterfeit Access Devices, and Bank Fraud. According to the indictment, Kim was previously convicted of a felony fraud offense in 2020 and deported as a result.
However, Kim chose to ignore the law and re-entered the United States illegally. He then proceeded to carry out a brazen scheme, using a fraudulent passport to open 72 bank accounts at various financial institutions.
The scheme, which began in November of 2023 and continued until at least July of 2025, resulted in a staggering loss of $1,195,795.96. Kim’s illicit activities were uncovered, and he was subsequently taken into custody.
As part of his plea agreement, Kim agreed to forfeit more than $144,000 in cash that was seized in relation to his crimes. His sentencing hearing is scheduled for October 7, 2026, at 2:00 p.m. before U.S. District Judge Haywood S. Gilliam, Jr.
Kim’s conviction carries a maximum statutory penalty of 30 years in prison and a fine of up to $1,000,000 for his Bank Fraud conviction. He also faces up to 10 years and a fine of $250,000 for each conviction of Illegal Re-Entry and False Use of a Passport, and up to 30 years and a fine of $250,000 for his Fraudulent Use of One or More Counterfeit Access Devices conviction.
Kim’s case is being prosecuted by Assistant U.S. Attorney Emily R. Dahlke, with the assistance of Jessie Chelsea and Amala James. The investigation was conducted by the U.S. Department of State’s Diplomatic Security Service and the Federal Bureau of Investigation.
Key Facts
- State: California
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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