[Asia Economy Reporter Gong Byung-sun] The group behind a planned real estate fraud worth around 250 billion won, which affected over 3,000 people including singer Taeyeon's family, has been referred back to the prosecution.
On the 28th, the Suseo Police Station in Seoul announced that on the 24th, they re-sent about 20 executives and associates of the A planned real estate group to the prosecution on charges of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes and violations of the Farmland Act. The police initially referred these individuals last October. The Seoul Central District Prosecutors' Office requested supplementary investigation from the police on December 3rd of last year regarding this case.
Officials from Group A are accused of selling land located in development-restricted areas in Songpa-gu, Seoul, Hanam-si, Gyeonggi Province, and Wonju-si, Gangwon Province, by falsely claiming that the land was soon to be developed. It has been reported that these lands are actually undevelopable. Using this method, they obtained illicit profits of about 250 billion won from over 3,000 victims.
Among the victims is known to be the family of Taeyeon, a member of the famous idol group Girls' Generation. Taeyeon's family reportedly purchased land located in Hanam-si. Taeyeon's side stated on October 28th last year that the land was bought for family residence purposes, not for speculation.
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