Six People Including Landlord Who Embezzled 21.7 Billion Won in Jeonse Deposit Arrested

Daejeon Police Agency Arrests Rental Business Owner, Sends 5 Licensed Realtors Without Detention
Victims Deceived by Exploiting Difficulty in Verifying Senior Lease Deposit

Six individuals, including a landlord and licensed real estate agents, were caught by the police for embezzling rental deposits worth approximately 21.7 billion KRW from 198 victims over four years.

The Anti-Corruption Economic Crime Investigation Unit of the Daejeon Metropolitan Police Agency announced that they arrested six people, including landlord A, who fraudulently obtained rental deposits totaling about 21.7 billion KRW from 198 victims between 2019 and 2023. Landlord A was sent to prosecution under charges of fraud.

A and others are accused of exploiting the difficulty tenants face in verifying prior rental deposit amounts by falsifying the amounts of senior-ranking deposits or boasting about their financial status to deceive victims and embezzle rental deposits.

Five licensed real estate agents, including B, received approximately 146 million KRW over three years from A as commission fees ranging from 1 million to 1.5 million KRW per transaction. They brokered leases for about 100 houses, reassuring victims by flaunting A’s financial power.

A police official advised, "Tenants should be more cautious to prevent damage by checking the certified copy of the register and subscribing to deposit insurance when signing lease contracts." The official also urged licensed real estate agents to carefully verify the property’s rights and relationships before brokering to help prevent rental fraud.