Landlord Arrested for Fraud Using Youth Jeonse Loan

A landlord who fraudulently fabricated documents to embezzle jeonse loan funds is being referred to the prosecution.

The Anti-Corruption and Economic Crime Investigation Unit of the Gwangju Metropolitan Police Agency announced on the 20th that Mr. A is scheduled to be detained and sent to prosecution on charges including violation of the Act on the Aggravated Punishment of Specific Economic Crimes.

Mr. A is accused of colluding with licensed real estate agents and tenants from last year to this year to create false jeonse contracts and embezzle a total of 600 million won in loans from financial institutions.

It was investigated that he opened a real estate agency office to recruit fake tenants and had them obtain youth jeonse loans from internet banks.

The tenants created duplicate jeonse contracts while residing in other one-room apartments or leaving them vacant, and received partial profits from the landlord.

The police switched to a detention investigation based on evidence secured through a search and seizure after arresting Mr. A, who had failed to comply with summons.

During the investigation, additional crimes of Mr. A failing to return jeonse deposits in the Seoul area were also confirmed, and supplementary investigations are underway.

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