A 20-Year-Old Attempted a 500 Million Won Fake Jeonse Loan Fraud During Probation... Sentenced to Prison in First Trial

A man in his 20s who attempted to commit a jeonse loan fraud during his probation period was sentenced to prison in the first trial.

According to the legal community on the 4th, Judge Yoon Yang-ji of Criminal Division 10 at the Seoul Western District Court recently sentenced A (29) to 1 year and 6 months in prison and B (21) to a fine of 5 million won on charges of attempted fraud. The court explained the sentencing reason, stating, "Attempting to embezzle jeonse loan funds, which are executed to stabilize housing for young people without homes, causes not only damage to financial institutions but ultimately harms the housing stability of the public, thus the social harm is very significant."

They are accused of acquiring real estate through a no-capital gap investment method and applying for false jeonse loans to embezzle a total loan amount of 476 million won. In this process, A played the role of a false landlord, and B played the role of a false tenant.

On February 8, A and B fabricated a contract as if they had signed a jeonse contract with a deposit of 140 million won and applied for a jeonse loan of 126 million won from a commercial bank. However, during this process, B got scared and canceled the loan application, resulting in an attempted but failed fraud. Nevertheless, A tried three more times by the 28th of the same month to obtain false jeonse loans. However, due to incomplete documents and credit delinquency issues, the loans were rejected, and all attempts ended in failure.

At the time of the crime, A was reportedly on probation for 2 years after being sentenced to 6 months in prison for another crime.

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