Prosecutor Employee Involved in Real Estate Investment Fraud Worth 30 Billion Won... Sentenced to 7 Years and 6 Months in Prison

[Image source=Yonhap News]

[Asia Economy Intern Reporter Kim Yeon-ju] A 30-year-old administrative employee at the prosecution office was sentenced to a heavy prison term for failing to return money to investors after collecting hundreds of billions of won in real estate investment funds by emphasizing guaranteed high returns.

On the 12th, the 11th Criminal Division of Jeonju District Court (Presiding Judge Kang Dong-won) announced that it sentenced A (39, female), an administrative employee at the Jeongeup branch of Jeonju District Prosecutors' Office, to 7 years and 6 months in prison on charges of violating the Act on the Aggravated Punishment of Specific Economic Crimes.

The court stated, "We recognize the indictment's claim that the defendant deceived numerous victims and gathered 30 billion won," adding, "Although the defendant personally invested, after failing, she used her status as a prosecution official to receive large sums of money from the victims."

It further explained the sentencing rationale, saying, "Victims who invested their own money and borrowed money from those around them lost their entire assets," and "Many victims have yet to receive their money back and are requesting severe punishment."

A was prosecuted on charges of receiving about 30 billion won in real estate investment funds from dozens of acquaintances and others since March last year by luring them with guaranteed high returns, but actually incurred stock losses and did not return the profits.

It was reported that A initially distributed profits earned from stocks to investors but avoided contact with them as losses continued.

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