Lost 200 Million at Casino and "Lost the Check"... 50s Man Charged with 'Attempted Fraud'

False report of lost check used for chip exchange
Court: "The nature of the crime is bad... Defendant must be held accountable"

A man in his 50s who falsely reported losing a check was sentenced to 8 months in prison with a 2-year probation for attempted fraud. It was reported that he committed this crime to embezzle money after losing 200 million won at a casino.

According to the legal community on the 8th, Mr. Gu (52) lost 200 million won while playing baccarat at a hotel casino in Jeju Island in March of last year.

Typically, only foreigners or domestic residents with overseas permanent residency can enter domestic casinos, but in January of last year, Mr. Gu signed a contract with an acquaintance, Mr. A, to obtain permanent residency in the Oceanian island nation of Vanuatu.

Then, Mr. Gu reported that he lost a 200 million won cashier's check he had used to exchange for chips at the casino and applied for a public notice of loss at the Seoul Western District Court. A public notice of loss means that the holder of a check or promissory note must notify the court of their possession.

A month later, Mr. A, who held the check handed over by Mr. Gu, filed a claim, and in August of the same year, the Seoul Western District Court issued a judgment suspending Mr. Gu's rights with a suspension order.

Accordingly, Mr. Gu was prosecuted for attempted fraud for reporting the loss of the check despite not actually losing it, in an attempt to embezzle 200 million won.

During the trial, Mr. Gu claimed, "I was a victim of gambling fraud, and until I prove this, it was inevitable to report the loss to prevent Mr. A or the casino from using the check funds."

However, the court did not accept this. Even if he applied for a public notice of loss to stop payment, once a suspension judgment is issued, Mr. A or the casino would not be able to receive the check funds, and Mr. Gu was aware that he would benefit from this.

Presiding Judge Ma Eun-hyeok of the Criminal Division 1 at the Seoul Western District Court stated on the 28th of last month, "It is sufficiently recognized that Mr. Gu had the intent to defraud or at least conditional intent," and sentenced Mr. Gu to 8 months in prison with a 2-year probation.

He added, "Mr. Gu's crime is of poor quality, so the defendant must bear appropriate responsibility."

However, the court took into account as favorable factors that Mr. Gu's crime was only attempted and that he has no prior criminal record warranting a prison sentence beyond probation.