Couple who extorted 3.5 billion won from fellow teachers with high-profit bait sentenced to 7 years in prison...

A couple who embezzled large sums of investment money from fellow school staff members by luring them with high returns was sentenced to prison.

The Criminal Division 11 of Daegu District Court (Presiding Judge Lee Jong-gil) sentenced former education public official A (42) and her husband B (44), a former contract teacher, to seven years in prison each on the 8th for charges including fraud under the Act on the Aggravated Punishment of Specific Economic Crimes.

A and others were prosecuted on charges of deceiving fellow school staff and others into investing in their high-yield real estate business from January 2018 to June 2021, embezzling 3.48 billion KRW from six victims. B was also charged with habitual internet gambling amounting to approximately 2.25 billion KRW from July 2018 to October 2020.

The court stated the sentencing rationale, saying, "The defendants deceived the victims for a considerable period, embezzling nearly 3.5 billion KRW, which is a serious offense. The victims are suffering severe distress due to wage garnishments and economic ruin caused by huge loan interests, and they are petitioning for strict punishment against the defendants."

Investigations revealed that A and others flaunted their wealth to acquaintances and used the invested funds for gambling, overseas travel, luxury goods purchases, and their children's English kindergarten tuition. The amount of damages not recovered by the victims amounts to approximately 1.9 billion KRW.

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