Yang Mun-seok, a member of the Democratic Party of Korea, was sentenced to a fine of 1.5 million won for a loss of membership in the second trial following the first trial on charges of illegal loans and reporting reduced assets.
On the 24th, the Suwon High Court's Criminal Division 3 (Judge Kim Jong-ki) upheld the original sentence of 1 year and 6 months in prison with a 3-year probation for the charge of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes, and a fine of 1.5 million won for the violation of the Public Election Act during Yang's appeal hearing.
Under the Public Election Act, if an elected public official is confirmed to have committed a violation of the Public Election Act resulting in a prison sentence or a fine of 1 million won or more, the election is declared invalid.
Earlier, the first trial court stated regarding Yang's fraud charges, "To avoid high-interest loans on dwellings, he applied for a business loan in his daughter's name at the Saemaul Geumgo, receiving it," adding, "It was considered that the funds intended for business were used to pay off the housing mortgage loan."
The first trial court also noted regarding Yang's violation of the Public Election Act, "There are false facts that go beyond simple injustice in the post made on Facebook."
The appeal court on this day remarked, "There is no change in the conditions of sentencing compared to the first trial," adding, "Considering all the records of this case and all relevant sentencing conditions, it cannot be seen that the original sentence is too heavy or light to be unfair."
Yang was indicted last September on charges of fraud (under the Act on the Aggravated Punishment of Specific Economic Crimes) for defrauding the Saemaul Geumgo of 1.1 billion won by deceiving them into believing that his college student child was running a legitimate business under the guise of funds for purchasing an apartment in Seocho District, Seoul, in April 2021.
As these suspicions surfaced ahead of the 22nd general election, Yang is also facing charges of posting a false clarification on his Facebook in March last year. In addition, he is accused of underreporting the value of an apartment jointly owned by his spouse in Seocho District during candidate registration for the general election, contrary to the actual transaction value (violation of the Public Election Act).