"190 Fake Warranty Certificates" — Two Men's Glass Coating Insurance Fraud [Claiming Falsehood]

[Financial News] The two men had known each other for quite some time, probably for about two years. But they had only recently become close. Since they saw each other fairly often, A suggested they should have a drink together first. B could not find any reason to refuse and agreed.
A ran a car wash, while B worked as an insurance manager at a service center for an automobile sales company. Whenever vehicles needing repairs were received at the center where B worked, they were sent to A's car wash.

During their conversation, however, the two realized that if an accident vehicle had glass sealant coating applied and the warranty period was still valid, they could submit documents to the insurer claiming the coating had been reapplied.They shared the fact that insurance payouts could be obtained relatively easily by submitting only related documents such as estimates and warranty certificates..
They knew about it, but had never dared to carry it out. Then they concluded that if A and B used their respective positions to work together, they could secure a substantial amount of insurance money. That was how their scheme began.
B watched for the right moment and began the operation a few days later.He selected accident vehicles for which it was unclear whether glass coating had been applied, or that had no warranty certificate, and informed A.. A then received those vehicles under the pretense of washing them and fabricated warranty certificates as if the glass coating warranty were still valid.
Based on those documents, they filed insurance claims for the alleged 'reapplication of glass coating.' The two agreed to split the money evenly.
The plan worked more easily than expected. Their first attempt brought in 600,000 won. After that,they committed a total of 190 insurance frauds over nearly four years. The amount came to about 52 million won.

However, one of the claims involved a vehicle that had no warranty certificate at all. They had created something out of nothing, so the claim should never have been possible in the first place. The mistake came from filing too many cases. An insurance company employee noticed the problem and requested an investigation.
Both A and B were eventually indicted andsentenced to one year in prison, suspended for two years. They were also ordered to complete 80 hours of community service.
The court said, "The offense was carried out over a long period in a planned manner, with the crime period lasting about three years and 10 months, 190 offenses committed, and the amount embezzled reaching 52 million won, making the degree of blame highly significant." It added, "However, we take into account as favorable factors that the defendants admitted to the crime and cooperated from the early stages of the investigation, that both are first-time offenders, and that they repaid 50 million won to the insurer, which also expressed its wish not to punish them."

taeil0808@fnnews.com Kim Tae-il Reporter