Prosecutors Indict Construction Company CEO and Others for Deceiving SH and Embezzling 6.2 Billion Won
![[Image source=Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2021090610035417188_1630890234.jpg)
[Asia Economy Reporter Kim Hyung-min] The prosecution has brought to trial the construction company CEO and the developer officials who deceived Seoul Housing and Communities Corporation (SH Corporation) by hiding the fact that a lien was placed on the building and sold it, embezzling approximately 6.2 billion won.
According to the legal community on the 7th, the Crime Proceeds Recovery Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Yoo Jin-seung) arrested and indicted construction company CEO Lee on charges of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes, and also indicted developer officials Lee and Choi without detention on the same charges the day before.
Between November 2018 and February 2019, they deceived SH Corporation, which was promoting a public rental housing project in Gasan-dong, Geumcheon-gu, and Namgajwa-dong, Seodaemun-gu, by selling buildings with liens, pocketing approximately 6.2 billion won.
Although subcontractors were exercising liens on the buildings due to payment issues, they temporarily removed the lien marks and disguised the buildings as normal, thereby concluding sales contracts with SH Corporation, according to the investigation.
The prosecution judged that their misconduct delayed the supply of public rental housing in the Gasan-dong and Namgajwa-dong areas by more than two years beyond the original schedule.
Hot Picks Today
"You Might Regret Not Buying Now"... Overseas Retail Investors Stirred by News of Record-Breaking Monster Stocks' IPOs
- "Not Jealous of Winning the Lottery"... Entire Village Stunned as 200 Million Won Jackpot of Wild Ginseng Cluster Discovered at Jirisan
- Mistaken for the Flu, Left Untreated... Death Toll Surges as WHO Declares Emergency (Comprehensive)
- Jinwoo Sunim: "We Must Abandon the Extremes of Surviving by Defeating Others"
- "How Did an Employee Who Loved Samsung End Up Like This?"... Past Video of Samsung Electronics Union Chairman Resurfaces
Initially, the Board of Audit and Inspection requested an investigation into SH Corporation employees on charges of breach of trust in connection with this case. The Board believed that SH Corporation employees knowingly purchased buildings with liens, causing damage to SH Corporation. However, during the prosecution's investigation, it was confirmed that SH Corporation employees were actually deceived by the organized fraud of Lee and others.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
