Company CEO Sentenced to Prison for Inflating Construction Costs to Receive Provincial Relocation Subsidies

조선일보

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The Daejeon District Court sentenced A, the CEO of a company, to four years in prison for embezzling approximately 2 billion won in local investment promotion subsidies by inflating construction costs with fraudulent contracts and creating a slush fund of approximately 900 million won. B, the CEO of a construction company involved in the crime, received a sentence of two years in prison suspended for three years.

연합뉴스-Yonhap News Agency

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(Daejeon = Yonhap News) Reporter Kim So-yeon = Companies that inflated construction costs to receive excessive subsidies paid to companies relocating from the capital area to the provinces, and then used the funds to create slush funds...