Fraudster Who Embezzled 7.1 Billion Won in Jeonse Deposit Sent to Prosecution in Custody
A group involved in embezzling a jeonse deposit worth around 7 billion KRW has been arrested by the police.
According to the Gwangju Metropolitan Police Agency on the 15th, the Northern Gwangju Police Station arrested Mr. A on charges of fraud and violation of the Act on the Registration of Real Rights on Real Estate, while seven accomplices were sent to prosecution without detention.
Mr. A is accused of purchasing 65 apartments in the Gwangju metropolitan area under the names of seven acquaintances from 2017 until June of this year, and embezzling jeonse deposits totaling 7.13 billion KRW from tenants.
The police expanded their investigation after receiving a complaint from one tenant last month.
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A police official stated, "There has been a sharp increase in various types of jeonse fraud targeting young adults with little social experience and no real estate knowledge, as well as the elderly, and we plan to respond strictly to this issue.
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