A man in his 30s has been sentenced to four years in prison for defrauding over 900 million won by posing as the head of a fictitious equipment company.
According to Yonhap News, on October 19, the Changwon District Court's Criminal Division 4, presided over by Judge Oh Dae-seok, sentenced the man, identified as A, for fraud under the Act on the Aggravated Punishment of Specific Economic Crimes.
A was charged with defrauding a friend, identified as B, and B's mother of a total of 900 million won from October 2023 to December of the previous year by claiming to be the president of a non-existent equipment company.
He approached B, mentioning the fabricated name of the equipment company’s president, and promised that working under him would lead to significant financial gains. He then deceived B into paying various fees, including association registration fees, membership dues, and site deposits, under the pretense that the president was undertaking large-scale construction projects.
Additionally, A posed as the president of the equipment company to B's mother, claiming that if she provided money, he would ensure that B received the funds he was owed.
The court noted, “The amount of money taken from the victims, who are mother and son, exceeds 900 million won, and most of it was used for personal expenses such as living and entertainment.” The court also considered the severe distress expressed by the victims, who pleaded for a harsh punishment.
* This article has been translated by AI.
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