Jeonse Fraud 'Construction King' Sentenced to 15 Years in Prison... "Serious Crime Violating Survival Rights Caused 4 Deaths"

Nine Accomplices Including Licensed Realtors Sentenced to 4 to 13 Years in Prison

The so-called 'Construction King,' who was tried on charges of a lease fraud amounting to 14.8 billion won centered around the Michuhol-gu area of Incheon, was sentenced to the statutory maximum penalty for fraud.

Judge Oh Gi-du of the Incheon District Court Criminal Division 1 sentenced Nam Mo (62), who was detained and indicted on charges including fraud, to 15 years in prison and ordered the confiscation of approximately 11.55 billion won in criminal proceeds at the sentencing hearing held on the 7th. Additionally, nine accomplices, including licensed real estate agents and brokerage assistants charged with the same offenses, were sentenced to prison terms ranging from 4 to 13 years each.

Judge Oh stated, "The defendants targeted vulnerable groups such as young adults starting their careers and the elderly, making their motives and methods extremely reprehensible," and explained, "There are 191 victims, with damages amounting to 14.8 billion won, and the victims' lease deposits were either loans or their entire savings earned through work."

He added, "Nam owned 2,708 housing units and must bear great guilt for causing harm driven by his greed," and judged, "Despite devastating the trust of the social community, he made excuses and caused pain by having 100 victims testify in court."

He further explained the sentencing rationale, saying, "While committing a serious crime that infringed on the basic living condition of housing, four young people in their 20s and 30s took extreme measures due to the lease fraud," and "Nevertheless, he consistently maintained an attitude that the state or society should resolve the issue, raising a high risk of recidivism."

Apartment Victimized by Jeonse Fraud in Michuhol-gu, Incheon
Photo by Yonhap News

During the reading of the verdict, Judge Oh unusually advocated for the need to amend related laws to increase the statutory maximum sentence for fraud. The statutory penalty for fraud is imprisonment of up to 10 years, but for defendants like Nam who committed two or more frauds, the 'concurrent offense aggravation' provision allows the sentence to be increased by up to half of the statutory maximum.

Judge Oh explained, "The maximum sentence that can be imposed for fraud is limited to 15 years in prison," and said, "Current law is insufficient to prevent malicious fraud crimes that destroy housing stability, a basic condition for human survival, rob vulnerable groups of their lives and hopes, and undermine social trust."

Nam and his group were indicted on charges of embezzling 14.8 billion won in lease deposits from tenants for 191 apartments and villas in the Michuhol-gu area of Incheon from March 2021 to July 2022. Although the total amount of charges against Nam and his group is 45.3 billion won (563 units), this trial only dealt with the previously indicted lease fraud case involving 14.8 billion won. The trial for the additional 30.5 billion won lease fraud charges is ongoing separately.

Nam was known as the Construction King, owning 2,700 units of apartments and officetels in Incheon and the Gyeonggi-do area. Between February and May of last year, four victims who failed to recover their lease deposits from Nam’s group consecutively took extreme measures.

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