Man in his 50s accused of fraud, committed fraud of hundreds of millions of won while on trial

A man in his 50s who stole hundreds of millions of won through another fraud while on trial for fraud was sentenced to prison.

According to the legal community on the 7th, the Incheon District Court sentenced Mr. A, in his 50s, to three years and six months in prison after being indicted on fraud charges in February.

Mr. A is accused of defrauding two people, including Mr. B, whom he had been introduced to through an acquaintance in 2020, and stealing investment funds worth 670 million won.

At the time, Mr. A deceived the victims by saying, "We are currently pursuing a new legal town construction project. The holding work has been completed and the building is scheduled to be completed within a year." He also said, "If you make the investment, we will definitely pay you the principal and profits."

However, the project was not even completed with the supporting work, and the building permit was canceled by the local government in charge, making it impossible to proceed normally.

In particular, it was revealed that Mr. A continued to receive investment funds without informing the victims of this fact, even though he was being tried for fraud at the time.

When sentencing Mr. A to 3 years and 6 months in prison, the court stated the reason for the sentence, saying, "The amount of damage was enormous, and even though a considerable amount of time had passed since the date of the crime, no significant damage recovery was achieved for the victims."

An order was also issued to pay 470 million won to Mr. B, one of the victims.

Attorney Park Shin-young of Daeryun Law Firm, who is Mr. B's legal representative, said, "Mr. A continued to engage in deceptive behavior, including writing a false memorandum of performance of promise to the victim asking for the return of the investment money," and added, "Even during the trial, he did not even make a sincere apology or even make an effort to repay the damages, so he needed to be severely punished."

Reporter Jeong Eui-jin (jej88@ikbc.co.kr)

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'Suspicion of fraud', man in his 50s, committed hundreds of millions of won in fraud while on trial (Shortcut)