"Claim of Fraud Against School Chairman Despite Promise to Transfer Management Rights"

A former chairman of a private school was reported to the police for receiving money under the pretense of transferring management rights but failing to follow through, prompting an investigation.

On the 16th, the Gwangju Dongbu Police Station announced that it had received a complaint accusing former private school chairman Mr. A of fraud and is currently verifying the facts.

According to the complaint, Mr. A, the son of the founder of the school corporation and chairman of the school board in July 2021, signed a contract with Mr. B, a construction company representative, to transfer the corporation’s assets, management rights, and control as part of a school relocation project.

Mr. A agreed to receive 5 billion KRW from Mr. B in exchange for the transfer rights, and Mr. B initially paid 1 billion KRW to Mr. A.

Subsequently, in September, Mr. B purchased a site in Seha-dong, Seo-gu, Gwangju Metropolitan City, for the school relocation, and from April of last year, obtained approvals from the school corporation’s board of directors, current students, and the alumni association, which were necessary for the relocation.

However, Mr. A’s position is that he invalidated the acquisition agreement and notified the withdrawal of the school relocation in August of the same year.

As a result, Mr. B halted the school relocation project and demanded Mr. A return the previously paid 1 billion KRW due to breach of contract, along with other expenses and compensation for losses, but was repeatedly refused.

The police are currently investigating the exact circumstances of the case after completing summons and questioning of the involved parties.

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