Development Information Obtained Through Position Leads to Real Estate Speculation Charges; Shinan County Council Member Referred

[Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] A member of the Shinan County Council in Jeonnam was handed over to the prosecution on suspicion of real estate speculation using development information obtained in advance by abusing their position.

According to the Jeonnam Provincial Police Agency on the 22nd, the Special Investigation Unit for Real Estate Speculation sent Councilor A of Shinan County to prosecution without detention on charges of violating the Anti-Corruption and Civil Rights Commission Act.

A is suspected of purchasing six forest land parcels in Aphae-eup, Shinan County, in August 2019 using real estate development information.

The police judged it as speculative crime based on the fact that A belonged to the standing committee reviewing the Shinan County urban planning amendment, and that the land was purchased about two months after Shinan County started the urban planning amendment project.

The site purchased by A with a loan for 2.45 billion won is currently valued at about 9.2 billion won, and it is reported that this land is expected to be converted to a commercial area soon according to the urban planning amendment of Shinan County.

During the investigation, the police took pre-indictment seizure measures on the real estate worth about 9.2 billion won to prevent A from arbitrarily disposing of the land.

Earlier, the police applied for an arrest warrant for A, but it was dismissed, and A was handed over to the prosecution without detention.

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