'Fake Wealthy Person' Who Bought Building Under Lover's Name Sentenced to 5 Years in Prison

[Image source=Yonhap News]

[Asia Economy Intern Reporter Kim Seong-yeol] A man in his 50s who pretended to be wealthy to approach women and extorted hundreds of millions of won was sentenced to prison. This man purchased buildings and signed various business contracts under the name of the woman involved.

The Ulsan District Court, Criminal Division 3 (Judge Kim Ju-ok), announced on the 14th that A (55), who was indicted on charges of fraud, violation of the Act on Real Name Registration of Real Estate, and forgery of private documents, was sentenced to five years in prison.

The court stated, "Despite extorting a large sum of money from the victim by exploiting their intimate relationship, he did not make efforts to restore the damage. Rather, he accused the victim of trying to frame him for economic gain, showing a poor attitude, making severe punishment inevitable," explaining the sentencing rationale.

A was a credit delinquent but pretended to have considerable wealth. In May 2016, he told B, his lover, that he owned many properties under his name and that purchasing under his name would incur heavy taxes, so he bought a nine-story building in Ulju-gun, Ulsan, using B's name.

He was also indicted for forging private documents under B's name to enter into various business contracts.

In April of the same year, he deceived B by promising to lease a building cheaply and received a total of about 224 million won over 30 installments. Additionally, he purchased goods worth approximately 18.36 million won using a credit card under B's name.

This content was produced with the assistance of AI translation services.