Prosecutors Arrest and Indict '1st Generation Villa King' for Embezzling 42.6 Billion Won in Jeonse Deposits
The 'first-generation villa king' who carried out a 40 billion won jeonse fraud in Seoul, Incheon, and other areas has been brought to trial.
The Criminal Division 8 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Hong Wan-hee) announced on the 11th that Jin Mo (51) was arrested and indicted the day before on charges of embezzling a large amount of jeonse deposits through gap investment without capital.
Hot Picks Today
!["Rather Than Endure a 1.5 Million KRW Stipend, I'd Rather Earn 500 Million in the U.S." Top Talent from SNU and KAIST Are Leaving [Scientists Are Disappearing] ①](https://cwcontent.asiae.co.kr/asiaresize/93/2026051914165468840_1779167814.png)
"Rather Than Endure a 1.5 Million KRW Stipend, I'd Rather Earn 500 Million in the U.S." Top Talent from SNU and KAIST Are Leaving [Scientists Are Disappearing] ①
- "Not Jealous of Winning the Lottery"... Entire Village Stunned as 200 Million Won Jackpot of Wild Ginseng Cluster Discovered at Jirisan
- "I'll Stop by Starbucks Tomorrow": People Power Chungbuk Committee and Geoje Mayoral Candidate Face Criticism for Alleged 5·18 Demeaning Remarks
- "To Get Revenge on Ex-Girlfriend" US McDonald's Manager Spits on French Fries
- "How Did an Employee Who Loved Samsung End Up Like This?"... Past Video of Samsung Electronics Union Chairman Resurfaces
According to the prosecution, Jin is accused of defrauding a total of 42.6 billion won in jeonse deposits from 207 tenants in Gangseo-gu and Geumcheon-gu in Seoul and the Incheon area from November 2016 to September 2019. It was investigated that Jin purchased villas without his own capital and received jeonse deposits higher than the purchase price, pocketing the difference, and bought 772 houses from 2014 to 2020. Although he was unable to return the jeonse deposits, he used a 'ponzi scheme' method to repay them, causing numerous victims.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
