[SBS Star] Real Estate Company that Scammed Taeyeon & Thousands More Forwarded to Prosecution

The real estate group who scammed thousands of people, including Taeyeon of K-pop girl group Girls' Generation, has been forwarded to prosecution.

According to reports on November 28, CEO 'A' and 20 other employees of the company have been forwarded to prosecution on charges of scamming over 3,000 individuals into buying lands that are later found out to be controlled by law.

Police stated that this company falsely advertised that it had undisclosed information of development plans for the lands in Songpa-gu, Gangdong-gu, Wonju, and Pyeongtaek.
Taeyeon purchased land in Hanam, Gyeonggi-do, for over one million won (approximately 750,000 dollars) through the company.

The company is reportedly to have received over 250 billion won (approximately 213 million dollars) from investors.

However, it was later revealed that the lands sold by the company was protected under the Forest Conservation Law, meaning that the lands are not eligible for development under the law.
The victims sued the company in July 2021 for fraud, and the prosecution received the case and kicked off a supplementary investigation for a year.

The charged individuals have now been forwarded to prosecution, and will soon face the judges.

(Credit= SM Entertainment)

(SBS Star)