Fraudster Jeon Cheong-jo – pretending to be the heir of a tycoon in South Korea – has just been sentenced to 12 years in prison. However, the damage he caused has not yet been repaid.
According to JoongAng, Jeon Cheong-jo was arrested last year on charges of appropriating more than 3 billion won (regarding 2.2 million USD) from 27 victims between April 2022 and October 2023.
Last February 14, Jeon, 27, received a 12-year prison sentence from judge Kim Byeong-cheol. This judge said: “Jeon has ruined the lives of many people by committing fraud.”
A person impersonating a descendant of a Korean tycoon to scam Korea
Jeon pretended to be a tycoon and tricked many people into investing in projects. Photo: Kor Times.
Jeon Cheong-jo committed fraud by pretending to be the heir of a chaebol (tycoon), luring victims to invest money in bogus projects. He was even compared to Anna Sorokin, a German-born criminal who moved to America and also pretended to be the heiress of a wealthy family to appropriate money.
This case has attracted great attention, appearing in the media in South Korea, especially following Olympic fencer Nam Hyun-hee claimed to know Jeon. There is even a lot of information revealed regarding the romantic relationship between Nam and Jeon.
Jeon Cheong-jo’s true face was gradually revealed in October 2023, when Nam Hyun-hee announced her engagement and revealed that her fiance was the son of a wealthy gambling family. However, the media quickly discovered Jeon’s true identity, who is transgender and had been convicted of fraud before.
Scene According to police, Jeon Cheong-jo is known as the fiancé of famous female fencing athlete Nam Hyun-hee. After the two announced they would get married in January 2024, many reports said that Jeon is the CEO of a famous global information technology company and claims to be the secret heir to the hotel chain. High-end Paradise Hotel in Korea. With a huge fake profile, Jeon lured many people with investment opportunities described as reserved for wealthy corporate families.
Jeon Cheong-jo (right) pretended to be a tycoon’s son to scam money. Photo: Nam Hyun-hee IG.
Currently, the police are continuing to investigate the case and have expanded their investigation to fencing athlete Nam Hyun-hee, with suspicions regarding her involvement in Jeon’s illegal activities. Jeon also revealed information that a large portion of the money he appropriated was used to buy a new Bentley and to pay off Nam Hyun-hee’s debt.
During the trial before the final sentencing last month, Jeon said: “I promise that I will repair the damage caused, even if it takes a long time, and prove my commitment with actions. I have and will always repent for my actions.”
