Main Perpetrator of Jeonse Fraud Embezzling 13.8 Billion Won Sentenced to 10 Years in Prison, Appeals Sentencing
Purchased Four Buildings Through No-Capital Gap Investment
The main perpetrator of a jeonse fraud case, who was sentenced to 10 years in prison in the first trial for embezzling a deposit of approximately 13.8 billion KRW, has filed an appeal.
According to the legal community on the 12th, Gu Mo (55), who was sentenced to imprisonment on charges including fraud, submitted an appeal to the Seoul Southern District Court on the 20th of last month.
Gu and his accomplices are accused of purchasing four multi-family one-room buildings in the Yeongdeungpo-gu, Geumcheon-gu, and Dongjak-gu areas of Seoul through 'no-capital gap investment,' then embezzling 13.5 billion KRW in jeonse deposits and 300 million KRW in jeonse loan funds from 155 people.
On the 15th of last month, Judge Seo Young-woo of the Criminal Division 12 at the Southern District Court rejected Gu’s claim that he was not responsible because he was not involved in the contract signing and sentenced him to 10 years in prison.
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The court stated, "Jeonse deposits are the most important assets for the majority of people," and "fraud crimes must be severely punished."
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