Estimated damage of 250 billion – 3,000 people injured
“Our ○○ group is the largest real estate group in Korea with a 20-year tradition.”
The blog of a real estate company official on the 28th. The company was promoted as a ‘comprehensive group’ consisting of four corporations and three brokerage corporations, with up to seven branch offices, and attracted land buyers saying “there is good news for development.” However, it turned out that these lands were areas that could not be developed, such as ‘conservation mountains’ that could not be used for other purposes except for military and public facilities.
The Suseo Police Station in Seoul announced on the same day, “We are investigating and investigating the representatives of affiliates of company A, a planning real estate company, who are accused of fraud and violation of the Farmland Act under the Act on Aggravated Punishment of Specific Economic Crimes.” The estimated damage alone was 250 billion won, and it was found that the number of victims, including Taeyeon (pictured) from the girl group Girls’ Generation, reached 3,000.
According to the police, Company A is accused of selling agricultural land by submitting an agricultural plan saying that it will farm directly, buying farmland, and deceiving investors to receive a ‘split’ sale according to the plan. The police, who were investigating this act as a possible violation of the Farmland Act, also found out that they had already sold and had no ownership rights to cultivate the land to the original owner, and even received a tenancy fee. It is also reported that Taeyeon suffered more than 1 billion won in damage. Taeyeon posted on Instagram on the same day, explaining that the purpose of purchasing the land was not speculation, saying, “It was my wish to have a home for my family.” Reporter Park Jong-min [email protected]
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