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Court: "Utilized lawmaker son status and police connections to deceive victim"
A civil judgment has been issued ordering the eldest son of former lawmaker Tae Young-ho, who was indicted on charges of defrauding money under the guise of investment by leveraging his status as a lawmaker's son, to compensate the victim with approximately 800 million won.
According to legal circles on the 5th, the 30th Civil Division of the Seoul Central District Court (Presiding Judge Kim Seok-beom) ruled in a damages lawsuit filed by Mr. A against Mr. Tae, the eldest son of former lawmaker Tae, stating, "Mr. Tae shall pay Mr. A approximately 867 million won plus delayed interest."
Around May 2024, Mr. A received a stablecoin exchange business proposal from Mr. Tae and handed over virtual assets and cash worth approximately 1.1 billion won.
Thereafter, around September 2024, when Mr. Tae began to be formally investigated by the police, Mr. A realized that his money had been defrauded and filed a civil lawsuit.
The court found that Mr. Tae gained Mr. A's trust by leveraging his status as a lawmaker's son and his connections with the police, and used this for the crime.
Specifically, when Mr. A tried to confirm Mr. Tae's borrowing relationship or repayment ability, Mr. Tae reportedly said, "It could really explode if we're not careful, and then I wouldn't be able to do anything and my dad would kill me."
It was also mentioned that Mr. Tae boasted about his police connections to Mr. A, saying, "We're all involved, even the police," "The head of the security division said he'd help if there's a problem," and "I met a detective today. He's the hyung (older brother/mentor) who will look after our business in the future."
Mr. Tae also said, "When our family came to Korea, a personal protection team was formed with the strongest detectives in our country," adding, "They are all SWAT, special forces, etc."
Mr. Tae defected to South Korea in 2016, following his father who was serving as a minister at the North Korean Embassy in the UK.
The court stated, "The defendant appears to have received police personal protection or had connections with some police officers as the son of a defector-turned-lawmaker," and "It appears that these circumstances were used to deceive (trick) the plaintiff."
The court recognized Mr. Tae's liability for compensation, finding that Mr. A suffered damages due to Mr. Tae's deceptive acts.
The judgment became final on the 24th of last month, as Mr. Tae did not appeal.
Meanwhile, Mr. Tae was arrested and indicted in May on charges of fraud under the Act on the Aggravated Punishment, etc. of Specific Economic Crimes, for allegedly defrauding acquaintances of approximately 1.4 billion won by promising to invest in virtual assets on their behalf and generate profits.
The prosecution believes that Mr. Tae used his status as the son of former lawmaker Tae to receive money under the guise of investment, but did not actually invest in virtual assets, instead embezzling the funds.
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