60s Wife Who Took Out 1.1 Billion Won Loan Using Husband Lookalike Sentenced to 2 Years in Prison

[Image source=Yonhap News]

[Asia Economy Intern Reporter Kim Sung-yeol] A 60-year-old wife and five accomplices were sentenced to prison after borrowing a large sum of money through a person resembling her husband and then sharing the money.

The Ulsan District Court Criminal Division 12 (Chief Judge Kim Gwan-gu) announced on the 16th that A (61), who was tried for violating the Act on the Aggravated Punishment of Specific Economic Crimes (fraud), was sentenced to 2 years in prison, B (46) was sentenced to 4 years in prison, and the other four accomplices including C (59) were sentenced to 1 year and 6 months in prison.

The court stated, "Wife A obtained a loan using real estate as collateral without her husband's consent, and during the process, forged and used various documents through a stand-in for her husband to embezzle the loan funds."

It added, "Defendant B led the crime by exploiting A's dependence on him and used the accomplices to oversee and direct the entire criminal process," explaining the sentencing rationale.

Earlier, A decided to divorce her husband and was introduced to B, who was entrusted with handling divorce-related matters by an acquaintance.

The two conspired to borrow a large sum of money using real estate owned by A's husband as collateral and share the money. A gathered a total of four accomplices, including two North Korean defectors, among whom was C, who impersonated A's husband.

They completed the registration of a mortgage right at the court on the building and land owned by A's husband and, using this as collateral, borrowed 1.1 billion won from a lending company in December 2018.