Man in his 40s sentenced to 17 years in prison for defrauding colleagues by saying, “I will make a profit through real estate investment”

Mr. A, embezzling investment funds from colleagues... Damage at least 10 billion won
Court: "The scale of the crime was very large and intelligent...severe punishment is inevitable."

A man in his 40s who scammed his long-time co-workers and stole 10 billion won was sentenced to heavy punishment.

On the 14th of last month, the 12th Criminal Division of the Daejeon District Court sentenced A, a woman in her 40s, to 17 years in prison, who was indicted on charges of fraud, forgery of private documents, and use of forged documents under the Act on the Aggravated Punishment of Specific Economic Crimes.

Mr. A is accused of stealing investment funds from dozens of company colleagues, including Mr. B, for about five years since 2019, saying, "I will make profits through real estate auctions."

It is known that the amount that Mr. A swindled from the victims amounts to approximately 10 billion won.

In addition, it was confirmed that Mr. A opened a mobile phone in another person's name using documents containing personal information such as colleagues' ID cards, power of attorney, and employment certificates, and even received a lease loan by writing a false real estate lease agreement.

In this process, Mr. A committed crimes systematically by recruiting people to act as fake landlords and tenants when signing a contract.

The court sentenced Mr. A to 17 years in prison.

The court pointed out, "Many victims of identity theft are suffering from serious pain, including debt demands from financial institutions due to loans made without their knowledge," and added, "Due to the defendant's crime, legal disputes continue between many victims and financial institutions over the validity and invalidity of loan contracts."

At the same time, the court added, "The scale of the crime was very large, the method of the crime was very bold and intelligent, and the nature of the crime was very bad in that the crime was committed by creating a new method that had been difficult to access until now. Considering the defendant's self-reliance, the possibility of recovery from damage did not seem to be high."

Attorney Byeon Gwan-hoon of Daeryun Law Firm, who represented victim B, explained, "Mr. A's crime greatly disrupted the financial order and caused great social and economic damage, with the victims being embroiled in various legal disputes. In particular, we emphasized that there is a high possibility of criticism in that he abused the good will of his co-workers to continue his crime."

#Real Estate Investment #Fraud in 40s #Misappropriation of 10 billion won #Accident

Park Seok-ho (haitai2000@ikbc.co.kr)

[View full article]
KBC Gwangju Broadcasting - 40-year-old sentenced to 17 years in prison for defrauding colleagues by saying, "I will make a profit through real estate investment" (Shortcut)
International Newspaper - “We will make a profit through real estate investment“… 40-year-old sentenced to 17 years in prison for fraud against coworkers (link)