'Appeal Against First Instance Verdict'... 4 Billion Real Estate Speculation by Pocheon City Official and Prosecutors, "Appeal"

[Asia Economy Reporter La Young-cheol] A public official at Pocheon City Hall in Gyeonggi Province, who was arrested and indicted on charges of real estate speculation worth around 4 billion won and sentenced to three years in prison, and the prosecution have both appealed the first trial verdict.

According to the prosecution on the 20th, the prosecution and the lawyer of Pocheon City official A (53) each submitted an appeal to the Uijeongbu District Court (Criminal Division 5) on the 19th and the 14th, respectively.

A was sentenced to three years in prison on the 13th for violating the "Act on the Prevention of Corruption and the Establishment and Operation of the Anti-Corruption and Civil Rights Commission."

Earlier, the court ordered the confiscation of the real estate in question and dismissed A's bail application. The prosecution had previously requested a seven-year prison sentence for A.

A was indicted on charges of purchasing seven plots of land totaling 2,600㎡ near a planned subway station site jointly with his spouse, using insider information obtained through his official duties in September last year.

The appraised value of the land A purchased for 4 billion won is about 7 billion won, and the current market price is known to reach approximately 10 billion won.

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