Forging scrapped car-level vehicles into expensive used cars... '12 billion' loan fraud group arrested

The Incheon Metropolitan Police Agency's Criminal Task Force arrested the chief in his 30s on charges of borrowing more than 10 billion won by making documents as if the vehicle was a normal used vehicle, and booked more than 200 people, including B, who lent his name without detention.

In addition, he arrested an employee of a financial company, Mr. C, on charges of approving the loan after learning that the documents were fabricated, and booked five people, including Mr. D, without detention.

Mr. A and others are accused of collecting 12 billion won from financial institutions by filing application documents for 260 cars from April last year to February as if they were expensive used cars.

According to a police investigation, they borrowed 20 million won to 200 million won from financial companies per vehicle and most of them did not pay back.

It was also found that the vehicle was borrowed by synthesizing the license plate of the accident vehicle with a normal vehicle or decorating the performance test paper.

There are 11 financial companies that have been damaged by the crime, and the fraud group aimed for non-face-to-face loans through document screening.

Police confirmed that the license plates of the accident vehicle, which were left unattended in a vacant lot in Osan, Gyeonggi-do, and a junkyard in Jeollabuk-do, were used in the crime.