▲ Bucheon Wonmi Police Station in Gyeonggi Province
A fraud ring that swindled more than 550 million won from victims by posting fake real estate listings on property platforms has been caught by the police.
The Bucheon Wonmi Police Station in Gyeonggi Province announced today (July 29) that it has forwarded eight members of the criminal organization to the prosecution on charges of fraud and forming a criminal organization, along with four others who provided them with burner bank accounts, for stealing money under the guise of real estate contract deposits and key money from 90 victims.
Investigators found that starting in October of last year, the group lured victims by posting fraudulent jeonse (lump-sum lease) and monthly rent advertisements on online real estate platforms at prices lower than the market rate.
They reportedly approached the victims by having gang members pose as licensed real estate agents and landlords, respectively.
The investigation revealed that they took advantage of contactless contract practices that spread after COVID-19, tricking victims into believing that contracts could be made without meeting the actual lessors, and thus pocketing the contract deposits and key money.
The police arrested the ringleaders and others in January, and after completing investigations into additional crimes, forwarded the entire case to the prosecution the day before yesterday.
A police official stated, "Fraud crimes exploiting contactless real estate transactions are running rampant," adding, "Whenever possible, meet the landlord in person to sign contracts, and immediately report to the police if damage occurs."
(Photo: Provided by Yonhap News TV, Yonhap News)
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