Police Transfer Jeonse Fraud Gang in Yangcheon-gu, Seoul... Damage Amount 25.8 Billion KRW

A group involved in a jeonse fraud scheme using simultaneous transaction methods, embezzling approximately 25.8 billion KRW, has been handed over to the prosecution.

According to the police on the 21st, the Seongbuk Police Station in Seoul sent 23 members of the jeonse fraud group to the prosecution on charges including organizing a criminal group and fraud. Among them, Mr. A, a man in his 30s who is the head of a sales agency, and four brokers were detained.

The police stated that from August 2019 to July 2021, they are suspected of committing jeonse fraud targeting newly built villas priced under 400 million KRW in the Yangcheon-gu area of Seoul. So far, 86 victims have been identified, with damages amounting to 25.8 billion KRW.

They used a simultaneous transaction method by inflating the jeonse deposit to be similar to the sale price, then using the deposit paid by tenants to cover the housing purchase price. According to the police investigation, the two landlords presented by the perpetrators for the crime were found to be insolvent and owned 180 and 125 buildings respectively.

The police are reportedly preparing to file a seizure preservation application to recover the proceeds of their crimes.

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