Goryeong County Council Member Arrested and Indicted on Real Estate Speculation Allegations Based on Legislative Activity Information
[Asia Economy Reporter Lee Jung-yoon] A member of the Goryeong County Council in Gyeongbuk, accused of real estate speculation using information obtained during legislative activities, has been brought to trial.
The Real Estate Speculation Crime Investigation Team (Chief Prosecutor Lee Junho) of the Daegu District Prosecutors' Office Western Branch indicted Councilman A on the 20th on charges of violating the Act on the Prevention of Corruption and the Establishment and Operation of the Anti-Corruption and Civil Rights Commission.
Councilman A is accused of purchasing land worth approximately 220 million won under his son's name using information about urban development projects in the Goryeong area obtained during his legislative activities in 2019. He is also accused of informing his younger brother of the information, enabling him to purchase surrounding land worth about 150 million won.
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The prosecution has completed seizure and confiscation preservation measures on the land acquired by Councilman A's son and others. If found guilty, the land will be auctioned off and all proceeds will be forfeited to the national treasury.
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