Police Conduct Search and Seizure on Agency and Association Suspected of Multi-Billion Won Duplicate Sale Fraud
[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] The police have launched a full-scale investigation into allegations of multi-billion won duplicate sales fraud at a regional housing cooperative in Gwangju.
On the 11th, according to the Dongbu Police Station in Gwangju, the police conducted a search and seizure targeting the sales agency of the regional housing cooperative in Jisan-dong, Dong-gu, Gwangju.
The police received a complaint from victims claiming they suffered multi-contract fraud from the agency and began an investigation.
The agency is suspected of embezzling about 5 billion won by allowing up to four duplicate contracts per apartment unit.
Those holding sales rights who were not included in the cooperative member list discovered that during the process of preparing interim payment loan documents, three to four people were registered as sales right holders for the same household, leading them to file a complaint.
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The police are investigating the exact circumstances targeting the cooperative and the sales agency.
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