"Fraud of impersonating a conglomerate." Jeon Cheongjo's second trial was commuted...a 13-year prison sentence

Jeon Cheong-jo, who impersonated a third-generation chaebol and committed investment fraud worth billions of won, was sentenced to 13 years in prison at the appeal trial.

The Seoul High Court today (21st) reversed the original trial, which sentenced Jeon, who was charged with fraud, to 12 years and 4 years in prison, respectively, and sentenced him to 13 years in prison.

The court judged that Jeon's criminal method was poor by using his unique deception, which greatly deviated from the common sense of the general public, such as posing as a chaebol.

He also explained that there is a very high risk of recidivism, such as committing crimes again even though he has a history of fraud, and that the damage has not been recovered even though there have been numerous victims.

However, he/she added that there is an element of mitigation as he/she cooperated with the investigation and submitted a number of letters of apology and clearly showed remorse.

At the final hearing at the end of last month, the prosecution asked the court to sentence Jeon to 20 years in prison.

Earlier, Jeon was sentenced to 12 years in prison in the first trial after being arrested and charged in February,
In September, he was sentenced to an additional four years in prison after being additionally indicted on charges of assaulting and intimidating the nephew of Nam Hyun-hee, a middle school student of the former national fencing team,
.

Jeon is accused of stealing about 3.5 billion won in the name of investment from 35 people he met while giving lectures from April last year to October last year.