[KNN News] 200 billion won worth of 'false pension insurance fraud' gang caught

{Anchor: A group of insurance agency representatives and designers who signed up for high-value pension insurance under false pretenses and embezzled large contract closing fees have been caught. They exploited loopholes in the insurance subscription fee system. The unfairly collected fees alone amounted to 200 billion won. Reporter Park Myeong-seon reports.} {Report} {Super: Insurance recruitment agency caught/Busan} The police raid an insurance subscription agency in Busan. Mr. A, 54, an insurance expert with 30 years of experience, opened an insurance agency here and hired employees, including insurance designers. Afterwards, he used the names of his family and acquaintances to sign false high-value pension insurance contracts. The condition was that he would pay the insurance money of up to 70 million won per month on their behalf. {Interview:} {Super: Former insurance planner/"As the number of transactions continues to increase, we have to pay more in advance. Since we are short on money, they keep trying to persuade us. They even suggest that we get an advertising loan and put it in if we bring the house deed to our house..."} While they were paying the insurance premiums in advance, they received a contract closing fee from the insurance company, and when the minimum maintenance period expired, they immediately canceled the contract and even received a refund. {Interview:} {Super: Former insurance planner/"Employees often signed on behalf of others and received most of the happy calls."} {Super: 5,800 false contracts/200 billion won in embezzled insurance fees} They exploited the fees that insurance companies pay to insurance agencies, and they took advantage of the loophole that even if they pay the insurance premiums in advance, they can still make a profit by adding the fees and refunds. Over the past 8 years, 5,800 false contracts have been signed, and the amount of insurance fees embezzled amounts to 200 billion won. {Interview:} {Super: Nam Jae-woo / Intelligence Team Leader, Haeundae Police Station, Busan / "In cases where high-value pension insurance exceeds 10 million won, not only did they pay the original insurance premiums in advance, but they also forged withholding tax receipts, which are documents proving income..."} {Super: Video coverage by Park Young-jun} {Super: Screen provided by Haeundae Police Station, Busan} Such insurance frauds result in increased insurance premiums, and the damages are passed on to the subscribers. {StandUp} {Super: Park Myeong-seon} "Meanwhile, the police are expanding their investigations targeting insurance planners and false insurance subscribers. This is Park Myeong-seon from KNN."