Prosecution Seeks 15-Year Prison Sentence for Former Cheongjo in Multi-Billion Investment Fraud Case

The prosecution has demanded a 15-year prison sentence for Jeon Cheong-jo (27), who was indicted on charges of impersonating a third-generation chaebol heir and committing investment fraud worth tens of billions of won.

On the 31st, at a trial held before the 11th Criminal Division of the Seoul Eastern District Court (Presiding Judge Kim Byung-chul), the prosecution stated, "Jeon deliberately committed the crime by impersonating an illegitimate child of a third-generation chaebol," adding, "The amount of damage reaches 3 billion won, and although Jeon confessed to the crime, this case was committed for a lavish lifestyle, so there is no mitigating motive."

The prosecution also demanded a 7-year prison sentence for Lee, who was indicted as an accomplice and served as Jeon's security team leader, saying, "Despite the serious degree of involvement, he denies the crime and his connection to it."

Jeon's defense attorney said, "Please consider that he has admitted all charges," adding, "Most of the profits belong to Nam Hyun-hee, and Jeon has almost no money. He has actively cooperated with investigations related to Nam, and some of the damages to the victims can be recovered, so please take this into account."

Jeon was arrested and indicted last November on charges including fraud under the Act on the Aggravated Punishment of Specific Economic Crimes, forgery of official documents, use of forged official documents, forgery of private documents, and use of forged private documents.

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