The prosecution has requested the court to impose heavy sentences on a group involved in a jeonse fraud amounting to 13.8 billion KRW in Seoul.
At the sentencing hearing presided over by Judge Seo Young-woo of the Seoul Southern District Court Criminal Division 12, the prosecution demanded 15 years imprisonment for Mr. A and 10 years imprisonment for Mr. B, who were indicted on charges including fraud.
According to the prosecution, from February 2017 to October 2023, they are accused of embezzling approximately 13.5 billion KRW in jeonse deposits and 300 million KRW in jeonse loan funds from 155 victims in Yeongdeungpo-gu, Geumcheon-gu, and Dongjak-gu, Seoul.
They acquired buildings by succeeding jeonse deposits and bank loans without initial capital, then rented out so-called ‘empty shell jeonse’ exceeding the exchange value of the buildings, defrauding about 5.3 billion KRW from 52 people.
Additionally, during the purchase of newly constructed buildings, they used a ‘simultaneous progress’ method, covering the payment with tenants’ deposits without capital input, stealing about 8.2 billion KRW from 103 victims.
In his final statement, Mr. A said, “I apologize to everyone who suffered.” Mr. B also expressed his apologies to the victims.
The sentencing for them is scheduled to take place at 2 p.m. on the 15th.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
