A Man in His 60s Impersonating a Securities Company Chairman... Sentenced to Prison for Embezzling 43 Million Won

A man in his 60s who impersonated the chairman of a securities company and embezzled tens of millions of won was sentenced to prison.

[Image source=Yonhap News]

On the 28th, Judge Min Seong-cheol of the Criminal Division 3 at the Seoul Eastern District Court sentenced A (67), who was indicted on fraud charges, to four months in prison.

A was tried on charges of borrowing 43 million won from the victim in 13 installments and failing to repay it. In December 2019, A contacted the victim and lied, saying, "If you urgently lend me money, I will repay it soon." A pretended to be the chairman of a securities company but did not operate the securities company and was a basic livelihood security recipient with neither the intention nor the ability to repay the money on time.

The court explained the sentencing reason, stating, "It is true that he deceived the victim regarding his stock investment experience and ability, and even though some repayment was made, considering that the entire damage has not been recovered."

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