Gangnam real estate scammer sentenced to 20 years after defrauding 100 investors
Social affairsOct 25, 2024
A man who defrauded 100 investors of about 20 billion won ($14.4 million) by impersonating an investment adviser for the state-run housing developer and selling apartments in Seoul’s affluent Gangnam area was sentenced to 20 years in prison, slightly reduced, on Friday. The defendant, a man in his 40s identified only by his surname Seo, was sentenced to 20 years and 10 months in April, but the Seoul High Court cut the sentence by 10 months. The court noted that the defendant’s meth