South Korean couple charged in 7 billion won rental deposit fraud

South Korean police have referred a couple and a building manager to prosecutors on charges of fraud involving rental deposits in Ansan, Gyeonggi Province. The investigation centers on three buildings comprising 147 studio and two-room apartments owned by the couple.

Authorities allege that the husband, a man in his 50s, failed to return approximately 7 billion won (over 131 billion VND) in security deposits to more than 100 tenants. Individual deposits ranged from 40 million to 100 million won. The victims began reporting the issue in early 2024 after receiving notices that their residences were being put up for auction.

The Gyeonggi Nambu Provincial Police Agency's Economic Crime and Anti-Corruption Investigation Unit transferred the case to the Suwon District Prosecutors' Office, Ansan Branch. The wife and the building manager were also referred for allegedly aiding the fraud. Investigators believe the suspect continued to sign lease agreements despite having no intention or ability to refund the deposits.