Court Sentences Fake Fisheries Businessman to 8 Years in Prison for 10 Billion Won Fraud Case
[Asia Economy Reporter Seongpil Cho] Kim Mo, who was charged with a fraud scheme involving billions of won while posing as a wealthy seafood businessman, was sentenced to 8 years in prison by the first trial court.
The Seoul Central District Court Criminal Division 22 (Presiding Judge Yang Cheolhan) on the afternoon of the 14th, in the sentencing trial for Kim, who was charged with fraud under the Act on the Aggravated Punishment of Specific Economic Crimes and conspiracy to extort and joint intimidation under the Act on the Punishment of Violent Crimes, found all charges guilty and handed down the sentence. The court stated, "The amount of damage reached 11.6 billion won, and most of the damages have not been recovered," adding, "Even considering the other crimes aside from fraud, the use of employees with backgrounds in organized crime shows the severity and gravity of the offenses." However, the court also noted, "Considering that some amounts were repaid to the victims and settlements were reached, leading them to not wish for punishment."
Hot Picks Today
No Bacteria Detected in Arisu After 24 Hours of Repeated Drinking from a Tumbler
- "We Can't Just Let Them Be Damaged Inside"... Samsung Electronics Removes 360,000 Wafers in Preparation for Strike
- "Up to 100 Trillion Won in Losses Feared, It's Not About Second Place but Catastrophe"... Industry Minister: 'Emergency Mediation Unavoidable If Samsung Strike Occurs'
- Wife in $6.7 Million Debt Took Out $3 Million in Husband's Life Insurance, Poisoned Him... US Court: "She Can Never Be Released"
- "He's Handsome, It's Such a Pity?"... Lawyer Responds to Bizarre 'Appearance Evaluation' of High School Girl Murder Suspect
Kim was indicted for embezzling a total of 11.6 billion won from seven people under the pretext of investment funds for the sale of squid from April 2018 to November last year. Among the victims were the elder brother of former lawmaker Kim Moo-sung and former journalists, which caused a stir. Kim is also accused of threatening some victims who demanded the return of their investments by saying, "I will not leave you alone." Earlier, the prosecution requested a 17-year prison sentence at the sentencing hearing last month, citing the defendant's poor criminal nature. Separately from this case, it has been reported that the prosecution recently requested supplementary investigations from the police regarding allegations that Kim gave money and gifts to journalists and active prosecutors.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
