On March 31, 2011, the defendant was sentenced to the suspension of the execution on July 1, 201 to two years and six months in the Seoul Central District Court for the violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes.

On March 2006, the Defendant, who worked as the head of C Saemaul Fund from November 1, 1995 to December 2009, formed 17 financial institutions, including E-credit cooperatives, F-credit cooperatives, G-credit cooperatives, H-credit cooperatives, and I-credit cooperatives with claims against D Co., Ltd. (hereinafter referred to as “D”), and around May 2007, the above C Saemaul Fund was designated as the representative of the C Saemaul Fund, and the Defendant was designated as the person in charge of the C Saemaul Fund’s duties and engaged in the collection of claims.

On July 12, 2007, the Defendant obtained the consent of the victim's claim group, and acquired the status of the buyer by being subject to the fraud of the purchase price of the de facto fashion which D was newly constructed by K from K. The Defendant identified L, M, N (O) as the O's wife, and the contract for sale in lots and provisional registration was made under the name of the O, and the transfer of registration was made under the name of the N.

In the event that the sales price of the unit is re-paid in full, according to the evidence of at least two applicants for the occupancy of the "P" unit newly constructed by the D, the sales pre-contract and provisional registration are concluded only when the sales price of the real estate unit deposited in the sales revenue management account (including the lease deposit) is at least 38 billion won after the conclusion of the agreement on the cause of the occurrence of a loss if the applicants for the occupancy introduced L, M, three applicants for the occupancy, and the two applicants for the occupancy, for theO, enter into a sales contract and the provisional registration, only if the sales price of the real estate unit deposited in the sales revenue management account (including the lease deposit) is at least 38 billion won, and the above conditions are fulfilled to the contractor, and the contractor, Q, R.