Mr. and Mrs. Jeong sentenced to 15 years in prison and their son to 12 years in prison.
“Deprive low-income people of their right to housing and prevent deposit refunds.”
The prosecution requested the court to sentence the Jeong family, who are suspected of the so-called ‘Suwon lease fraud’, to heavy sentences.
On the 28th, Suwon District Court Criminal Division 11 (Chief Judge) concluded the defense of Mr. Jeong and his wife, who were indicted on charges of fraud and other charges.
At the decision hearing on this day, the prosecution requested 15 years in prison for Mr. Jeong and his wife, and 12 years in prison for his son.
The prosecution told the court, “The case in question is the so-called Suwon jeonse fraud case, a ‘large-scale case,’” adding, “The defendants deny fraud in contracts with guaranteed insurance, but the reality is that many convictions have already been made for the crime.” He emphasized.
He said, “The victims are ordinary people in their 20s and 30s who paid deposits for rent, newlyweds, and other ordinary people,” adding, “After depriving ordinary people of their right to housing, the defendants took no measures other than preventing deposits from being returned and squandering the consumption of game items. The reason for the impeachment was stated, “The abnormal rental business caused extreme damage of 76 billion won.”
In the final argument, the lawyer for Mr. Jeong’s family said, “The defendants are not disputing most of the facts of the indictment and are reflecting on it. However, some rental contracts, such as contracts with guarantee insurance, renewal contracts, or contracts extended by renewal, may also be considered fraud. He appealed for maximum leniency, saying, “Please look closely at the legal aspect to see if it exists.”
In their final statement, Mr. and Mrs. Jeong’s husband said, “I apologize for the suffering and harm suffered by many people due to my mistake,” and added, “I am spending each day in reflection and repentance. It’s my fault as the head of the family. “Please show leniency to my wife and son out of your magnanimity,” he cried.
Mr. Jeong’s wife also submitted the ‘Heart Sutra’ in Korean as a sign of reflection prior to the trial on this day.
Last July, the prosecution additionally indicted the Jeong family on fraud charges after discovering that they had committed 12.9 billion won. As a result, the total number of victims of Suwon rental fraud increased to 511, and the amount of damage increased to 76 billion won.
From December 2018 to December 2022, Mr. Jeong and his wife established 17 corporations for rental business and directly operated 3 real estate agent offices. Then, from January 2021 to September 2023, ‘capital-free gap investment’ was carried out in the Suwon area using the names of individuals and corporations. The number of villas and officetels that they purchased through gap investment without capital was initially indicted by the prosecution, amounting to about 800 units.
Prosecutors believe that the Jeong family systematically participated in the crime of lease fraud. Mr. Jeong was the president of a rental company, his wife was in charge of contracts, and his son was in charge of appraisal.
In the process of acquiring multiple buildings with bank loans, Mr. Jeong pretended to pay capital at the time of incorporation, and continued leasing with ‘back and forth’ without a specific fund management plan while the loan exceeded 70 billion won in debt. It was also found that five buildings were placed in a title trust.
In addition, by directly requesting an appraisal from his son, who is an appraiser, the son violated the Appraisal Act by conducting a so-called ‘up-appraisal’. My husband, Mr. Jeong, used the tenants’ deposit for personal purposes, such as purchasing game items.
Their sentencing will be held on December 9.
Meanwhile, victim A (20s, female), who attended the trial on this day, said, “It is absurd to protect your family until the very end,” and added, “The damage amount has not been recovered and the auction of the rented house continues to be postponed.” .
(Suwon = News 1)
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