Prosecutors Arrest and Indict Former Cheongjo on Fraud Charges... 3 Billion Won in Damages

Jeon Cheong-jo (27), who was known as the remarriage partner of former national fencing representative Nam Hyun-hee (42), and an accomplice have been indicted while in custody.

Jeoncheongjo. [Image source=Yonhap News]

On the 29th, the Criminal Division 2 of the Seoul Eastern District Prosecutors' Office (Chief Prosecutor Park Myung-hee) indicted Jeon and accomplice A on charges of violating the Act on the Aggravated Punishment of Specific Economic Crimes (fraud), forgery of official documents, use of forged official documents, forgery of private documents, and use of forged private documents, while in custody.

Jeon is accused of introducing himself as a "third-generation chaebol" and approaching students he met through acquaintances and lectures to fraudulently obtain money under the pretext of investment funds. Accomplice A is accused of posing as Jeon's bodyguard, providing his name to rent luxury residences and foreign cars, managing the proceeds of the fraud, and sharing about 200 million won.

According to the prosecution, there are 27 victims who were defrauded by Jeon, with damages amounting to over 3 billion won. Police investigations are ongoing regarding Nam Hyun-hee, who is suspected of being an accomplice of Jeon.

A prosecution official stated, "We will closely cooperate with the police to thoroughly investigate accomplices and additional crimes, and will pursue the criminal proceeds to the end to ensure full recovery of damages."