"Guaranteed Profits from Investing in Gangwon Land Casino... 40s Sentenced to Prison for Fraud"

116 Billion Won Embezzled from 9 People Including Acquaintances

A woman in her 40s was sentenced to prison for committing fraud by promising guaranteed profits through investments in deposits at Kangwon Land Casino.

[Asia Economy Reporter Kang Woo-seok] A woman in her 40s who committed fraud by promising guaranteed returns on deposits for Kangwon Land Casino was sentenced to prison.

The 15th Criminal Division of the Incheon District Court (Presiding Judge Lee Gyu-hoon) announced on the 8th that it sentenced Ms. A (43, female), who was indicted on charges including fraud under the Act on the Aggravated Punishment of Specific Economic Crimes, to four years in prison.

Ms. A is accused of deceiving a total of nine people, including an acquaintance Mr. B, in the areas of Muan and Mokpo, Jeonnam Province, from November 2017 to July 2021, by promising a 10% monthly return on investments in deposits for Kangwon Land Casino, and embezzling approximately 11.6 billion KRW.

It was investigated that she did not actually invest in casino-related ventures but used a Ponzi scheme to repeatedly deceive Mr. B and others to obtain money.

Additionally, she was sentenced to three years and six months in prison for fraud in 2012 and was released on parole in 2014, but was confirmed to have committed crimes again.

The court stated, "She defrauded victims who lived in the same area and were on friendly terms with her, and considering the amount embezzled, the nature of the crime is very serious. She did not reach a settlement with the victims and did not fully restore the victims' losses," but added, "However, she admitted to the crimes, and in some cases, victims received amounts exceeding their investment principal or returns, so the amount of damage appears to be less than the embezzled amount," explaining the reasons for sentencing.

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