Gang Arrested and Indicted for Embezzling 14.6 Billion Won through 'Mujabon Gap Investment' Scheme
A group involved in 'zero-capital gap investment' scams that swindled 14.6 billion KRW in jeonse deposits over two years in Seoul and Incheon has been brought to trial.
On the 16th, the 8th Criminal Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Hong Wan-hee) announced that on the 13th, real estate agent Kim and brokerage assistant Shin were indicted on charges of fraud and detained.
They are accused of purchasing villas in Yangcheon-gu, Seoul, and the Incheon area using zero-capital gap investment methods from September 2020 to August 2022, and swindling a total of 14.6 billion KRW in jeonse deposits from 73 tenants. They bought 563 houses over two years by receiving jeonse deposits higher than the actual sale price without using their own capital and taking part of the difference.
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The prosecution explained that Kim and others had been returning jeonse deposits to tenants in a revolving manner but eventually reached a limit in their financial capacity, leading to a situation where they defaulted on the jeonse deposits.
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