Simultaneous Contract Loophole Exploited in Jeonse Fraud... Gang Embezzling 150 Million Won Sent to Prosecution

[Asia Economy Reporter Yoo Byung-don] A group that exploited loopholes in simultaneous contracts during real estate transactions to embezzle jeonse loan funds has been apprehended by the police.

On the 11th, the Yeongdeungpo Police Station in Seoul announced that they had arrested and sent three suspects, including Mr. A, on charges of fraud in June.

Mr. A and others are accused of deceiving by claiming they would pay the remaining balance using the jeonse deposit during the officetel sales contract process, but fled the sales contract site after the tenant deposited a loan amount of 150 million won.

It was investigated that they targeted the fact that when sales and jeonse contracts are made simultaneously, the bank deposits the loan amount to the landlord on the contract even if the registration is not completed.

The police judged this as a new type of jeonse fraud exploiting the loopholes in simultaneous real estate contracts and arrested them.

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