Girls’ Generation Taeyeon’s real estate fraud case worth 250 billion won re-transferred to prosecution

The planned real estate fraud, which Girls’ Generation’s Taeyeon was reportedly a victim of, has been remanded to prosecution.

On November 28th, the Seoul Police Station announced that it has sent about 20 officials, including representatives of planned real estate companies, on charges of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes and violation of the Farmland Act, to prosecution.

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They are accused of receiving 250 billion won in the name of sales from 3,000 victims by deceiving that they knew undisclosed development information related to lands in Songpa-gu and Gangdong-gu in Seoul, Wonju in Gangwon-do, and Pyeongtaek in Gyeonggi-do.

Planned real estate fraud is a fraudulent method of reselling land shares to an unspecified number of people at a high price by deceiving that there are no development restrictions or that the restrictions will be lifted soon. The land promoted by them is designated as an absolute conservation area, such as a “biotope” (a habitat for specific organisms that exist in the city), so development is impossible in reality.

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The police received complaints from the victims in July last year. They then launched an investigation and sent about 10 people concerned to the prosecutor’s office. However, in December of the same year, when the Seoul Central District Prosecutors’ Office requested a supplementary investigation, they took over the case again, investigated it for nearly a year and handed it back to the prosecution.

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In particular, the victims of this case are known to include Taeyeon‘s family. At that time, Taeyeon’s father reportedly bought land in Hanam, Gyeonggi-do under Taeyeon’s name. However, regarding this, Taeyeon explained that her family bought it for residential use rather than speculative buying, “My wish was to set up a home for my family which will be a little closer to where I work and live. To make a spot for my family is my dream. With the consent from my family, both my parents have directly checked and decided to buy it as they also have the same dream as me.”

Source: Nate

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