Businessman Accused of 3.5 Billion Won Fraud Appears for Detention Hearing... Silent Response

Businessman Yeo Mo, accused of fraud, is leaving the courtroom after attending the warrant hearing (pre-arrest suspect interrogation) held at the Gwangju District Court at 11 a.m. on the 22nd. Photo by Jin-Hyung Park bless4ya@

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] A businessman accused of borrowing tens of billions of won from an acquaintance and failing to repay it appeared for a warrant hearing on the 22nd on charges of fraud.

Mr. Yeo attended the warrant hearing (preliminary suspect interrogation) held at the Gwangju District Court at 11 a.m. that day and then boarded a transport vehicle.

When reporters asked, "Do you admit to the charges?" Mr. Yeo remained silent.

The decision on whether to issue an arrest warrant is expected to be announced around the afternoon of the same day.

Mr. Yeo is accused of approaching victim Mr. A by offering to sell land located in Naju City, Jeollanam-do, valued at approximately 20 billion won, borrowing 3.5 billion won from him, and failing to repay it.

However, he is known to claim that the money was not borrowed but received as payment for the land sale.

The police first became aware of the case through an investigation by the Crime Intelligence Analysis Team and are currently judging, based on witness and reference statements and other evidence, that the money in question was a loan rather than a commission.

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