Reform Innovation Party: Punish Large-Scale Fraud Offenders with Multi-Offense System

IconCryptoNewsTerminal Staff17 Jun, 2024

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Reform Innovation Party: Punish Large-Scale Fraud Offenders with Multi-Offense System

Reform Innovation Party Proposes Harsher Sentences for Fraud Offenders The Reform Innovation Party has unveiled its economic, social, and welfare policy agenda, which includes a proposal to implement the "multiple offenses principle" for fraud crimes. According to party representative Heo Eun-ah, this would strengthen punishments for offenses such as lease fraud, coin fraud, and stock manipulation. Representative Heo cited the United States as an example, where large-scale fraud criminals can face prison sentences of over 100 years. She emphasized that in South Korea, even serious fraud cases often result in light punishments, leading to a perception that South Korea is a lenient jurisdiction for economic criminals. The multiple offenses principle entails imposing separate sentences for each crime and then summing them up for a total sentence. The party believes this system would deter fraudsters and promote economic integrity. The Reform Innovation Party's proposal comes amid increasing concern over financial fraud and the need for more robust legal measures to protect victims.

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