Gwangju Police Request Arrest Warrants for Four, Including Union Head, in 'Duplicate Sale' Fraud Case

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] The Dongbu Police Station in Gwangju announced on the 23rd that it has applied for pre-arrest warrants for three officials of the association's business agency and the association president in connection with allegations of multiple contract fraud involving the Jisan-dong Regional Housing Association in Dong-gu, Gwangju.

The three officials of the business agency are suspected of inducing prospective residents or association members without membership qualifications to deposit up to 80 million won into accounts other than the designated account, such as past association promotion committee accounts, thereby embezzling the money.

The association president is suspected of knowingly turning a blind eye to this.

Based on the submitted complaints, the estimated damage amounts to approximately 8.1 billion won involving 125 victims. Those claiming damages allege that up to four people per household were subjected to overlapping sales fraud.

Earlier, the police have been continuing their investigation based on materials secured through raids on the association and sales agency offices.

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