Seoul Villa and Apartment Jeonse Fraud Gang Sent to Prosecution... 7 Billion Won Illicit Gains

A group that obtained unfair profits amounting to 7 billion won through jeonse fraud involving apartments and villas in the Seoul area has been handed over to the prosecution.

[Image source=Yonhap News]

According to the police on the 23rd, the Gwanak Police Station in Seoul sent three people, including a man in his 60s identified as A, to the prosecution without detention the previous day on charges of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes.

A and others are accused of not returning the jeonse deposit to tenants even after the expiration of the jeonse contracts for 31 villas and apartments located in nine autonomous districts including Gwanak-gu, Seoul, from February 2016 to January 2018. A was the main planner of the crime, while the others played roles as real estate brokers and lent their names when purchasing real estate, respectively.

The police found that A and others committed the crime using a no-capital gap investment method, purchasing real estate with jeonse deposits received at prices higher than the sale price. It was investigated that they obtained a total unfair profit of 6.935 billion won through the crime.

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