Organization's chief who stole 14.6 billion won in 'loan fraud' is sentenced to 14 years in prison

The Supreme Court has found the prosecution guilty of applying the crime of organizing a criminal group for the first time against a jeonse loan fraud organization.

The Supreme Court confirmed the original ruling, which sentenced the 50-year-old man A to 14 years in prison for criminal organization charges.

Three people, including a landlord recruitment plan and a licensed real estate agent, who participated in the crime were also sentenced to three to six years in prison.

Mr. A and others are accused of stealing 14.59 billion won from various banks from July 2020 to October last year by borrowing "youth lease loan products" 153 times.

They were found to have committed the crime by recruiting false renters and leases and creating fake lease contracts by exploiting the fact that youth loan products can be borrowed relatively easily from commercial banks with basic documents.

Previously, the prosecution believed that A and others divided their roles and committed them systematically, and applied the crime of organizing a criminal organization for the first time as a private loan fraudulent organization.