Four in their 60s Referred to Prosecutors Over Illegal Real Estate Brokerage Charges

The Gyeongnam Provincial Police Agency announced on the 12th that four individuals in their 60s, accused of disrupting the real estate market, have been sent to prosecutors without detention on charges of violating the Public Real Estate Agent Act and the Real Estate Registration Act.

They are suspected of operating without a real estate agent license or transacting property under others' names to evade taxes. Specifically, two of them are accused of brokering land deals worth hundreds of millions of won from an unregistered office and pocketing the commission. The other two are suspected of brokering land deals worth hundreds of millions of won without a license or transacting property under borrowed names for tax evasion purposes.

Police urged the public to be cautious and thoroughly verify if real estate agencies operating under 'consulting' names are registered and if their agents hold a public real estate agent license before engaging in property transactions.