"Busan 18 billion won lease fraud." 15 years in prison... "First final ruling."

A 50-year-old man accused of committing a large-scale charter fraud worth 18 billion won has been sentenced to 15 years in prison.

The Supreme Court today (20th) confirmed the original ruling, which sentenced Choi, who was charged with fraud and other charges, to 15 years in prison.

It is the Supreme Court's first conviction of a large-scale charter fraudster who has emerged as a social issue since 2022, according to a support group for victims of charter fraud.

Choi was indicted on charges of failing to return 18 billion won from 229 tenants in nine buildings, including an officetel in Suyeong-gu, Busan, by "non-capital gap investment" between 2020 and 2022.

In court, Choi claimed that he only failed to return the deposit due to interest rate hikes, but it was not accepted in both the first and second trials.

A 15-year prison sentence is the highest court sentence a court can sentence to fraud under the criminal law.