'2.3 Billion Yacht Flex' Popular YouTuber arrested for 12 billion jeonse fraud
Aug 22, 2024
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The Suwon Nambu Police Station in Gyeonggi Province said on the 21st that it recently sent Moon to the Suwon District Prosecutors' Office on charges of fraud and other charges.
Since 2017, Moon has conspired with real estate agents to purchase five villas and one apartment building in Suwon and Hwaseong through a capital-free gap investment method. The gap investment method refers to an investment method in which a building is purchased and at the same time a deposit is received to cover the sale price and purchase other sales. Moon is accused of defrauding 77 tenants of 11.9 billion won in lease deposits from 2021 to last year.
Police believe that Moon was defrauded without giving a deposit as interest rates rose while making gap investments, making it difficult to afford interest and new leaseholders did not appear well.
Moon is also accused of forgery of private documents, such as forging a lease contract with a tenant as a monthly rent contract for loan purposes and submitting it to financial institutions.
Moon has secured 100,000 subscribers while working as a game YouTuber. Recently, he showed off his financial power through a video titled '2.3 billion Yacht Flex'. On the 11th, he said "It is difficult to broadcast for the time being due to COVID-19."
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