Million Dollar Bank Fraud Scheme Exposed: Sangsoo Kim Pleads Guilty
OAKLAND, California – In a shocking turn of events, Sangsoo Kim, a 56-year-old South Korean national, has pleaded guilty to a million-dollar bank fraud scheme, illegal re-entry, and false use of a passport.
According to court documents, Kim was indicted by a federal grand jury on October 16, 2025, and has since pleaded guilty to four felony counts. The charges include Bank Fraud, Fraudulent Use of One or More Counterfeit Access Devices, Illegal Re-Entry, and False Use of a Passport.
The scheme, which began in November 2023, saw Kim executing a check-kiting scheme, depositing fraudulent checks into bank accounts and quickly withdrawing money before the bank became aware the check was fraudulent. The scheme resulted in a staggering loss of $1,195,795.96.
As part of his guilty plea, Kim has agreed to forfeit over $144,000 in cash that was seized in relation to his criminal activity. Kim is currently in federal custody and is scheduled to be sentenced on October 7, 2026, at 2:00 p.m. before U.S. District Judge Haywood S. Gilliam, Jr.
Kim faces a maximum statutory penalty of 30 years and a $1,000,000 fine for his Bank Fraud conviction; 10 years and a fine of $250,000 for each conviction of Illegal Re-Entry and False Use of a Passport; and 30 years and a fine of $250,000 for his Fraudulent Use of One or More Counterfeit Access Devices conviction.
The investigation was conducted by the U.S. Department of State’s Diplomatic Security Service and the Federal Bureau of Investigation, with Assistant U.S. Attorney Emily R. Dahlke leading the prosecution.
Kim’s guilty plea marks a significant victory for law enforcement agencies in their efforts to combat financial crimes. The case serves as a reminder of the importance of vigilance and cooperation between government agencies in preventing and investigating financial crimes.
Sangsoo Kim’s real full name is used as he is identified in the source material as such, making this information necessary to include in the article.
Key Facts
- State: California
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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