A man in his 20s sentenced to 2 years and 6 months in prison for fraudulently receiving 600 million won in youth deposit loans

A man in his 20s who fraudulently applied for a youth jeonse and monthly rent deposit loan and received about 600 million won from financial institutions was sentenced to prison.

According to the legal community on the 26th, the Criminal Division 12 of the Seoul Western District Court (Chief Judge Kwon Seong-su) sentenced Mr. A (23), who was charged with violating the Act on the Aggravated Punishment of Specific Economic Crimes and fraud, to 2 years and 6 months in prison.

Mr. A was indicted on charges of conspiring with the head of the organization, loan broker manager, false landlord and tenant recruiters, and loan fund recipients from January to April 2022 to fraudulently apply for youth jeonse and monthly rent deposit loans and receive about 600 million won from financial institutions under the name of jeonse funds. As a false tenant recruiter, Mr. A fabricated jeonse contracts and deposit receipts to make it appear as if a jeonse contract had been concluded and applied for the youth jeonse and monthly rent deposit loan.

The court stated, "This crime not only harms the victim financial institutions but ultimately leads to the contraction of the jeonse fund loan and guarantee system, which can damage the stability of housing for the public, causing significant social harm. However, considering that the defendant admitted to the crime and is showing remorse, as well as various factors such as age, character, and environment, the sentence was determined."

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