"Entrust Me with Your Money" ... Embezzled Over 1 Billion Won from Acquaintances

Special Post Office Chief Sentenced to 7 Years in Prison

[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Sharon] On the 15th, the Chief Judge of Criminal Division 2 at Tongyeong Branch of Changwon District Court in Gyeongnam announced that Yang Mo (64), who was prosecuted on charges of fraud, was sentenced to 7 years in prison.

Chief Judge Jang Ji-yong stated, "The amount of damage is large and the recovery of damages has not been made. The crime is very serious as he deceived elderly or illiterate customers and embezzled money deposited as savings, so severe punishment is necessary."

Yang worked as an office manager and postmaster at a special branch post office (a small post office operated by an individual in an area without an official post office) in Nambu-myeon, Geoje City, from April 1999 to 2016.

From September 2012 to March 2018, he promised an annual interest rate of 5-7% and persuaded seven acquaintances, including Lee Mo, to entrust him with money. He then embezzled approximately 1.058 billion KRW over 69 transactions.

He coaxed elderly or illiterate acquaintances by saying, "For the special branch post office to be converted into a general post office, deposit subscription performance is necessary. And if the deposit performance increases, I can also receive allowances, so entrust me with your money."

Additionally, in 2008, he deceived Hwang Mo, who came to deposit 50 million KRW from her husband's retirement pay, by saying, "If the deposit details are printed by a machine on the passbook, it is not good for receiving the elderly pension. I will write the transaction details manually with a pen," and created a fake passbook to receive 50 million KRW. He embezzled a total of 130 million KRW from Hwang until 2017.

It was found that Yang used the embezzled money for living expenses, repaying personal debts, and paying interest promised to the victims.

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