From Saemaul Geumgo, a daily payment of illegal loans worth 90 billion won...Damage treasury eventually merged

A group of people who illegally borrowed more than 90 billion won from Saemaul Geumgo was handed over to the prosecution.

The Gyeonggi Northern Police Agency handed over two people, including a loan broker A and a Saemaul Geumgo executive B, to the prosecution without detention on charges of committing 93.3 billion won worth of illegal loan fraud.

Mr. A and others are accused of unfairly borrowing 71.8 billion won from Saemaul Geumgo, such as inflating the collateral value of used car sales complexes nationwide for three months from December 2022.

In addition, he is also accused of illegally borrowing 21.4 billion won by writing false real estate sales contracts across the country, including Incheon, Ulsan, and Pyeongtaek, for eight months from July 2022 and inflating the value of collateral.

According to the police investigation, A collected fake buyers and wrote contracts with real estate developers who had difficulty lending to make the building look like it was sold, and B participated in the crime by manipulating the internal system during the loan review process.

Their illegal loans became bad loans, and the Saemaul Geumgo, which was hit by operations, was merged into a nearby Saemaul Geumgo in July last year.

The police tracked down criminal proceeds such as loan mediation fees and solicitation fees, and confiscated and collected about 11.3 billion won before prosecution.

Earlier, the police announced in May that they handed over a total of 76 people, including A, to the prosecution on charges of causing 71.8 billion won in illegal loans by inflating the value of collateral in the used car complex, and explained that they later arrested the rest of the group after continuing the investigation.