'5 Billion Won Embezzlement via Youth Jeonwolse Guarantee Loan' - 3 Years Imprisonment, Prosecutor's Appeal

Four people in their 20s and 30s exploited the youth jeonse deposit loan system to embezzle 500 million won, and after the main perpetrator, Mr. A, was sentenced to three years in prison, the prosecution filed an appeal.

According to the Seoul Eastern District Prosecutors' Office on the 7th, Mr. A acted as the recruiter, Mr. B as the landlord, and Mr. C and Mr. D as tenants, applying for false deposit loans from the bank and embezzling a total of 500 million won over five occasions. The court sentenced Mr. A to three years in prison, Mr. B to one year and six months, and Mr. C and Mr. D to eight months in prison on the 31st of last month.

A prosecution official stated, “Considering that the damage from jeonse loan fraud affects innocent young people, that most of the damage has not been recovered, and the need to impose severe punishment on jeonse loan fraud to achieve a deterrent effect,” adding, “We will do our best to ensure that the defendants receive harsher sentences.”

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