Young Man Sentenced to 20 Years for Defrauding Wealthy Family

A young man in his twenties has been sentenced to 20 years in prison for defrauding a wealthy family out of approximately 10 billion KRW (around $8.5 million). The Daegu District Court's Criminal Division 11, presided over by Judge Lee Young-cheol, found the defendant, referred to as A, guilty of violating the Specific Economic Crimes Aggravated Punishment Act (fraud) on July 16, 2025.
The case involved A psychologically manipulating a woman in her twenties, identified as C, whom he met through an online community in November 2023. He pretended to be in a romantic relationship with her and subsequently extorted around 10 billion KRW from her wealthy parents.
Investigations revealed that A converted about 7 billion KRW of the stolen funds into gift cards, which are difficult to trace, and sold them to a personal gift card dealer to cash out and hide the money. Some of these funds were later transferred to another young man, referred to as B, who was sentenced to one year in prison with a two-year probation for holding some of the stolen cash.
The court emphasized the severity of the crime, noting the significant financial impact on the victims and the psychological damage inflicted, stating that the actions went beyond mere financial fraud to destroy the victims' dignity and well-being. The court took into account the victims' pleas for severe punishment when determining the sentence.
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