"To Exempt Coin Investment Debt"... 'Bold' 20s Sentenced to Probation for Taking Out Large Loans in Mother's Name

[Financial News] A woman in her 20s was sentenced to probation for secretly issuing a credit card in her mother's name and repeatedly taking loans and purchasing goods to pay off debts incurred from cryptocurrency (coin) investments.
According to the legal community on the 20th, the Seoul Southern District Court Criminal Division 13 (Judge Kim Seongeun) sentenced a woman in her 20s, referred to as Ms. A, to one year in prison with two years of probation for charges including fraud, computer use fraud, and forgery of electronic records. She was also ordered to perform 80 hours of community service.
Ms. A was brought to trial on charges of secretly issuing a credit card in her mother's name using her mother's mobile phone and resident registration card, which she used to take loans or purchase goods to pay off debts from coin investments. She is also accused of defrauding her ex-boyfriend by lying to him.
Specifically, in February 2023, Ms. A accessed the B Bank mobile application using her mother's mobile phone at her residence, entered personal information such as name, address, and resident registration number, and attached an ID photo to open an account in her mother's name. It was revealed that she then took out a loan of 38 million won without her mother's consent and transferred it to her own account.
In May of the same year, Ms. A accessed the C Card Company mobile application using her mother's mobile phone, entered personal information, and issued a credit card, then made payments amounting to 1,352,000 won at an online shopping mall, totaling 43 transactions amounting to 67,054,600 won by August 2024. She also applied for cash services with the card, transferring a total of 5,630,000 won to her own account.
Her crimes did not stop there. In August of the same year, Ms. A accessed the D Card Company mobile application using her mother's mobile phone, issued a credit card, and made payments amounting to 1,490,000 won at an online shopping mall, totaling 18 transactions amounting to 15,940,200 won by August 2024. She also applied for cash services with the card, transferring 4,650,000 won to her own account.
Using similar methods, Ms. A also issued new credit cards from E Card Company, F Card Company, and G Card Company, made several payments at online shopping malls, and received cash services amounting to hundreds of thousands to millions of won, which she transferred to her own account.
The court stated, "Considering the number of victims and the fact that the damages amount to approximately 200 million won, and that the embezzled funds were consumed in coin investments or used to repay personal debts, the defendant's responsibility is heavy," adding, "However, the defendant acknowledges her wrongdoing and is reflecting, and it appears that most of the damages to financial institutions have been recovered as the defendant has repaid the amount. The actual victim, her mother, does not wish for punishment, which was considered in determining the sentence."
welcome@fnnews.com Jang Yuha Reporter