“If you get a building permit and resell it, it doubles” Prosecutors ‘not indicted’ man in his 50s on land investment fraud charges

Plaintiff claims “promised permission for lodging business”
Prosecutors “It is difficult to view it as an act of deception.”

A man in his 50s who was handed over to the prosecution on charges of stealing 100 million won by deceiving the land by claiming that it would help him obtain a building permit and generate greater market profits by purchasing land was not indicted.

On the 13th of last month, the Changwon District Prosecutors' Office Tongyeong Branch cleared two people, including Mr. A, in his 50s, of fraud charges.

They are accused of stealing 100 million won from victim B in April 2017 by deceiving a piece of land in Geoje-si, Gyeongsangnam-do, which could not obtain a construction permit for lodging facilities, as if it could be licensed.

Mr. B and others stated that Mr. A's group lured them into investing by saying that they could double the market profit by reselling the land after receiving a building permit.

They also emphasized that they embezzled an additional 20 million won, saying they needed lobbying funds related to building permits.

Mr. A completely denied the charges. The purpose is that there is no fact that investment was induced using market profits as bait. He also countered that the building permit-related part is something that needs to be confirmed with civil engineering or architectural design personnel, and that he is doing work that is completely unrelated to this.

The prosecution also determined that Mr. A was not guilty. The land in this case was not land on which accommodation permission was not possible in the first place, and accordingly, it cannot be said that there was any act of deception on the part of Mr. A and others.

Attorney Kim Jin-won of Daeryun Law Firm, who represented Mr. A, said, “The issue in this case was whether or not a building permit was granted, but the reason for the impossibility was that it was determined by the subjective review of public officials in charge, such as concerns about damage to the surrounding natural scenery and aesthetics, so it was difficult for the general public to judge whether or not a building permit was granted. Therefore, it cannot be said that Mr. B and others were deceived.”

Digital Content Team

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“If you get a building permit and resell it, it doubles” 50-year-old accused of land investment fraud, prosecutors ‘not indicted’ (Shortcut)