"Let's Go into the Rental Car Business Together" - 30-Year-Old Sentenced to 4 Years for Stealing 7 Foreign Cars

[Image source=Yonhap News]

[Asia Economy Reporter Kim Choyoung] A man in his 30s who defrauded acquaintances of hundreds of millions of won by deceiving them into a joint rental car business was sentenced to prison.

The Ulsan District Court Criminal Division 3 (Presiding Judge Kim Yonghee) announced on the 17th that Mr. A, who was tried on charges of fraud, was sentenced to four years in prison.

The court stated the sentencing reasons, saying, "Mr. A committed the crime again during the recidivism period after serving a sentence for fraud, and he has not compensated the 400 million won in damages."

Mr. A was indicted on charges of deceiving victims in 2019 by saying, "If you go into the rental car business, you can make a lot of money, so let's go into business together," and extorting about 400 million won.

Mr. A used the victims' purchases of expensive foreign cars such as Jaguar, BMW, and Audi as collateral to obtain loans or to pay off his own debts.

It was investigated that Mr. A embezzled seven vehicles using this method. Some victims even took out loans to purchase vehicles and then handed them over to Mr. A.

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