Insurance “Sales King” arrested for 10 billion won fraud

[Anchor]

A insurance planner, who has been named 'Sales King' for several years, has been arrested on charges of embezzling approximately 10 billion won from clients.

Although the victims reported the incident to the insurance company, the company stated that it was unrelated to their operations and allowed the planner to resume sales, during which additional victims emerged.

This is Kang Byeong-soo reporting.

[Report]

Two years ago, Lee Seung-hoon (pseudonym) received an enticing proposal from an insurance planner surnamed Jang at DB Insurance.

Jang asked him to invest money, claiming that if he prepaid the fire insurance premium for a large factory, he would receive a high commission upon renewing the contract.

The initial 30 million won that Lee sent was returned the next day along with a commission of 300,000 won.

Twenty days later, when he sent 50 million won, it was returned with an additional commission of 500,000 won.

The investment amount grew to 1 billion won. However, since March of last year, neither the principal nor the commissions have been returned.

Kim Min-sun (pseudonym) also handed over 700 million won in the same manner but did not receive back the principal or commissions.

[Kim Min-sun (pseudonym)/Insurance Fraud Victim/Voice Altered: "There were awards for being an excellent agency in the office, and the 'Sales King' photo was hung right at the entrance, so I thought he must be someone who works really hard."]

The victims filed a fraud complaint against Jang and sent a certified letter to the insurance company informing them of the fraud.

The company stated that the products sold by Jang were unrelated to the company and imposed a one-month sales suspension on him last November, while sending a message to customers to be cautious of fraudulent products.

However, Jang soon resumed his sales activities and even received a merit award from the company for his performance.

In the meantime, another victim trusted Jang and handed over tens of billions of won.

[Kwon Hyuk-jun (pseudonym)/Insurance Fraud Victim: "If he had at least vacated the office, we wouldn't have trusted him like this."]

The police have identified at least 17 victims so far, estimating the total amount of damage to exceed 10 billion won.

This is KBS News, Kang Byeong-soo.