[Exclusive] "Orchestrated Scam"…New Type of Jeonse Fraud Uncovered in Suncheon

"First-Priority Mortgage" Turns Out to Be Fake: New Fraud Method Emerges
A Four-Member Crime Ring Exploits Legal Loopholes with Sophisticated Tactics
Lent 200 Million Won, Only to Discover Everything Was a Lie

Multi-family housing located in Eunpyeong-gu, Seoul, used as collateral by fraudsters. Provided by reader

A shocking jeonse fraud case recently occurred in the Jeonnam region, drawing significant public attention. This case, which Prime Minister Kim Minseok referred to last month as a "systematic and sophisticated crime," is considered a textbook example and demonstrates the remarkable meticulousness of the perpetrators.

The defining feature of this case lies in the fraud method, which was systematically planned like an intricate puzzle. The criminals thoroughly analyzed legal loopholes and employed sophisticated strategies to deceive the victim. Four individuals divided their roles and meticulously orchestrated the scheme, utilizing step-by-step tactics such as the first stage of making an "attractive investment proposal" and the second stage of "skillful legal manipulation."

Perpetrators A and B approached the victim by promoting a fictitious "gift certificate distribution business." They gained the victim's trust by guaranteeing high returns and emphasizing the safety of real estate collateral.

C, who was both the actual property owner and a co-conspirator, and D, the tenant, used a shocking method by retroactively manipulating the registration date to reverse the legal priority. D secured legal status by applying for tenant registration belatedly, while falsifying the contract date, occupancy date, and resident registration date to make it appear as if they had been residing there for a long time. As a result, the victim lost an investment of 200 million won, and the real estate considered as collateral became legally worthless.

Experts have assessed this case as a highly intelligent crime, fundamentally different from conventional jeonse fraud, and have pointed out that it must be dealt with strictly as a crime exploiting loopholes in the legal system. This case is being highlighted as a cautionary example, reminding investors of the importance of a more careful approach and thorough legal review.

The four-member fraud group, who meticulously divided their roles to deceive the victim, cunningly exploited legal loopholes to essentially extort 200 million won. A and B were responsible for attracting investment, C provided his own property as fake collateral, and D proceeded with tenant registration as a follow-up procedure, thereby nullifying the victim's rights.

The criminal group lured the victim by touting the safety of real estate investment. Their expertise was particularly evident in how they exploited the general belief that "first-priority mortgage is safe" and precisely targeted the blind spots in the tenant rights structure.

The government has expressed a strong commitment to respond to such organized fraud. Prime Minister Kim Minseok stated, "We will pursue the perpetrators to the end and amend the law to protect the victims' money."

Experts have evaluated this case as a "hybrid form of jeonse fraud and investment fraud," a new type of scam, and have emphasized the need for legal sanctions to prevent similar crimes in the future.