"I Can Help You Buy Apartments Cheaply": Woman Sentenced to 18 Years for 27.8 Billion Won Fraud

▲ Seoul Southern District Court

A woman in her 40s has been sentenced to a lengthy prison term for swindling nearly 30 billion won from over 60 people by promising to help them purchase apartments at a discount.

The Seoul Southern District Court (Presiding Judge Lee Jung-hee) sentenced Park (43), who was indicted on charges including fraud under the Act on the Aggravated Punishment, etc. of Specific Economic Crimes, to 18 years in prison today (July 8).

Park is accused of defrauding 63 victims of approximately 27.8 billion won over three years, starting in late 2022, in the Seoul and Gyeonggi regions. She allegedly told victims, "If you entrust me with your money or take out mortgage loans and hand the funds over to me, I can help you buy apartments at a lower price."

The prosecution had requested a 35-year prison sentence for Park on June 10.

In its ruling, the court criticized the defendant, stating, "The defendant lied about her capabilities and financial status to conceal a debt rollover scheme and deceived numerous victims. The nature of the crime is very poor, considering the circumstances, content, and methods of the offense, as well as the number of victims and the total amount of damages."

The court emphasized, "The victims are suffering significant mental and financial distress, and the defendant has made no effort to restore the damages. Given the gravity of the crime and the extent of the harm, a punishment commensurate with her responsibility is necessary."

However, the court added that it took into account mitigating factors, such as the defendant admitting to the crime and expressing remorse, the repayment of 1 billion won of the total damages, and her lack of a prior criminal record.

Regarding the victims' requests for compensation, the court dismissed them, stating, "Because the agreements vary by victim, it is difficult to calculate and award compensation within this criminal case. You should seek repayment through civil litigation."

(Photo: Yonhap News)

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