Gang Arrested for Defrauding Tens of Billions of Won Through Solar Power Investment Scams in Rural Areas

[Asia Economy Honam Reporting Headquarters, Reporter Kim Chunsu] The police are investigating a group that deceived rural residents into believing they could earn high profits by installing solar power generation facilities, thereby illicitly gaining billions of won.

On the 23rd, the Jeonnam Police Agency announced that they have booked and are investigating five people, including A (in his 50s), the CEO of a solar equipment company, on charges of fraud.

They are suspected of embezzling over 500 million won from more than 20 farmers since the second half of 2020 under the pretext of contract payments for solar power facilities.

According to the police investigation, it was confirmed that they deceived victims by claiming that installing electric power generation facilities on unused land in rural areas such as Goheung and Yeosu in Jeonnam, and Hamyang, Sancheong, and Uiryeong in Gyeongnam, would yield monthly profits of 1.5 million to 5 million won.

After receiving contract payments of 20 to 30 million won from the victims, they disappeared and continued their crimes by changing the company names.

The police estimate that the number of victims is about 70 and the amount involved is around 2 billion won. Last week, they conducted raids on three offices of A and others located in Chungnam and Gyeonggi, and are investigating their whereabouts and additional crimes.

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