Prosecutors sentenced Jeon Cheong-jo to 20 years in prison in appeal for "fraud of impersonating conglomerates."

Prosecutors have asked Jeon Cheong-jo, who is accused of impersonating a third-generation chaebol and committing investment fraud worth billions of won, to be sentenced to heavy punishment at the appeal trial.

The prosecution asked the court to sentence Jeon to 20 years in prison at a final hearing held at the Seoul High Court today (31st).

In his closing statement, Jeon said he felt deeply that if he commits a crime, he will surely be punished and paid for it someday, adding that he will bow down and ask for forgiveness until he can be forgiven by everyone.

Jeon was arrested and charged with stealing about 3 billion won in the name of investment from 27 people he knew from April last year to October last year, and was sentenced to 12 years in prison in the first trial in February.

Jeon was additionally charged with assaulting and intimidating the nephew of Nam Hyun-hee, a middle school student of the former fencing national team, and was sentenced to an additional four years in prison last month.

The appeals court accepted Jeon's request and merged the case of assault against his nephew into the fraud case.

The result of Jeon's appeal will be released on the 21st of next month.