As a result of an SBS interview, it was confirmed that 92.3 billion won of the property of Nam Mo, a builder who carried out a large-scale charter fraud in the Michuhol-gu area of Incheon and mass-produced the victims, has been frozen.

According to data submitted by the office of the apex legislator of the People's Power, the Incheon District Court issued a decision in March citing the pre-indictment supplementary compensation requested by the prosecution.

The estimated amount of compensation cited was 92.3 billion won, which included an expensive passenger car owned by Mr. Nam, a bond for the return of the lease deposit, and a building in the western part of Incheon.

Earlier, prosecutors arrested and charged Nam with fraud and other charges in March.

According to the prosecution, since around 500, Mr. Nam has purchased land in the name of another person in the Michuhol district, built a building with the construction cost procured by obtaining a PF loan through his construction company, and then increased his number of houses to 3,2009 by repeating the process of covering the business expenses with the lease deposit he received.

In particular, the prosecution determined that due to the business structure of Mr. Nam's family, most of his income sources were charter deposits, and because he used loans with little input of Mr. Nam's personal funds, he used the charter deposit to pay fixed expenses of 2.708 billion won per month, including interest on the loan of about 15.17 billion won per month.

At the end of March 2021, Mr. Nam also sent a group text message to his employees to the effect that "there was a shortage of funds due to the inability to continue the contract for the construction of a new building or an increase in the rental deposit," and as the loan interest was overdue, the properties he had owned since January last year began to be auctioned off in a series of random auctions, but he continued to sign the lease while hiding this fact.

In the process, it was also investigated that Mr. Nam tried to secure funds by raising the tenants' rental deposits to solve the money crunch.

According to the Charter Fraud Prevention Committee, it is estimated that more than 3,1 households have been victims of charter fraud by Mr. Nam's family.

Earlier this month, police charged Nam and his family with organizing crime, accusing them of stealing 3 billion won in rental deposits from tenants for 2021 apartment buildings between March 3 and July last year.

As the police continue to investigate further allegations of crimes prior to this point, the final amount of charges against Mr. Nam may increase.

(Photo = Courtesy of Yonhap News TV, Yonhap News)