'3 Billion Won Fraud' Jeoncheongjo's First Trial on the 22nd... Will Nam Hyunhee's Accomplice Suspicion Be Cleared?

If Damage Exceeds 500 Million KRW Per Person,
Higher Sentences Possible Under 'Special Criminal Act'

The first trial of Jeon Cheong-jo (27), who has been indicted on charges of fraud involving tens of billions of won, is just one day away, drawing attention to key issues including whether Nam Hyun-hee (42) is an accomplice.

[Image source=Yonhap News]

According to the legal community on the 21st, the Criminal Division 11 of the Seoul Eastern District Court (Chief Judge Kim Byung-chul) will hold the first hearing on the 22nd for Jeon, who was indicted on charges of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes (Special Act), forgery of official documents and use of forged official documents, and forgery of private documents and use of forged private documents, along with his accomplice Lee (26), who pretended to be Jeon's security chief.

From Heir to Chaebol to Pretending to Be a Man... Meticulous Fraud Scheme

They were indicted for impersonating a hidden heir of a famous domestic chaebol group and embezzling tens of billions of won from victims under the pretext of investment funds. The police have identified a total of 32 victims and a damage amount of 3.69 billion won so far. During the fraud, it was revealed that Jeon pretended to be the fianc? of Nam, a former national fencing athlete, which attracted public attention.

Jeon showed meticulousness by changing not only his social status but also his gender for the fraud scheme. He forged a male resident registration card starting with the number 1 on the back of the resident registration number and showed it to victims. When planning crimes against men, he pretended to be a wealthy woman in her 20s and extorted hundreds of millions of won under the pretext of pregnancy and marriage. The prosecution specified Jeon as a "woman in her 20s" when indicting him in custody on the 29th of last month.

Jeon Hyun-hee, a former national fencing representative accused of being an accomplice in Jeon Cheong-jo's fraud case, is appearing at the Songpa Police Station in Seoul on the 8th. Photo by Jang Jin-hyung aymsdream@

Whether Nam Hyun-hee Is an Accomplice Under Police Investigation

As Jeon's fraud scheme was exposed, suspicions arose about Nam being an accomplice. The suspicion of Nam's involvement as an accomplice in the fraud is still under police investigation. He has been accused and reported on charges including aiding and abetting fraud. The police conducted a confrontation interrogation between Nam and Jeon on the 8th of last month and summoned Nam for additional questioning on the 8th of this month.

In Nam's case, depending on objective evidence that could prove his awareness of Jeon's fraud scheme and whether he repaid the damages, he may stand trial as an accomplice. Earlier, on the 15th of last month, the police took pre-indictment seizure and preservation measures on a Bentley vehicle and luxury bags registered under Nam's name. A police official said, "We are conducting a thorough investigation into Nam's accomplice suspicions, including digital forensics and related person investigations."

Jeon Cheong-jo’s Fierce Court Battle Expected... Will the Special Act Apply?

The court battle over Jeon's various crimes, which are the core of the case, is expected to be intense. The main issues will likely include the display of wealth, whether the business was actually established, and the ability to repay borrowed money. Jeon is known to have more than 10 prior convictions solely for fraud before the current case.

In cases of investment fraud, the determination of guilt is likely to depend on whether the investment actually took place and how the investment funds were used. Also, the charges applied may vary depending on the victims and the amount of damage.

If there are victims with damages exceeding 500 million won per person, the Special Act will apply, resulting in heavier sentences, making the prosecution's ability to prove the charges crucial. Under the Criminal Act, fraud is punishable by up to 10 years imprisonment or a fine of up to 20 million won, whereas under the Special Act, fraud is punishable only by imprisonment of three years or more.

This content was produced with the assistance of AI translation services.