Father of Former Cheongjo Accused of 1.6 Billion Won Fraud Sentenced to Prison in First Trial

Jeoncheongjo Father Sentenced to Prison in First Trial for Fraud Charges
Embezzled 1.6 Billion Won Under Pretext of Real Estate Investment
Five Years on the Run... Caught Stealing a Cell Phone

A, the father of Jeon Cheong-jo, who is serving a 12-year prison sentence after being convicted of fraud in the first trial, was also sentenced to prison in the first trial on charges of fraud.

(From the left) Mr. Jeon Chang-su and his daughter Jeon Cheong-jo. [Photo by JTBC, Channel A news footage capture]

On the 22nd, the Criminal Division 1 of the Cheonan Branch of the Daejeon District Court (Chief Judge Jeon Gyeong-ho) sentenced A, who was detained on charges of violating the Act on the Aggravated Punishment of Specific Economic Crimes (fraud), to 5 years and 6 months in prison.

A is accused of embezzling a total of 1.61 billion KRW from victim B, whom he met while brokering real estate sales contracts during the operation of a real estate development company, over six occasions from February to June 2018. He is also charged with stealing one mobile phone during his time on the run.

A deceived B by saying, "If you transfer money to an individual, it will be easier to get a startup loan," received the money into a personal bank account, then cut off contact with B and disappeared. The funds sent by B were investigated to have been squandered on gambling and business ventures.

A, who lived on the run for a full five years, was urgently arrested by the police on December 25 last year after breaking into a manpower brokerage office in Beolgyo-eup, Boseong, Jeollanam-do, stealing a mobile phone and fleeing. The court stated, "The amount of damage exceeds 1.6 billion KRW, and the nature of the crime is extremely bad as the defendant cut off contact with the victim and absconded after the crime," adding, "Considering that no restitution has been made and the defendant has not been forgiven, the sentence was determined."

Meanwhile, his daughter Jeon Cheong-jo posed as an illegitimate child of a major conglomerate and carried out fraudulent activities as the partner of Nam Hyun-hee, a former national fencing athlete. She is accused of deceiving 22 victims with the claim of a 'secret investment opportunity known only to chaebols,' extorting 2.72 billion KRW under the pretext of investing in unlisted stocks.