According to the evidence submitted by the prosecutor, although the court below found the defendant guilty of the facts charged of this case, it erred by misapprehending the facts and making the defendant not guilty of fraud.

Judgment

Around June 16, 2006, the Defendant operating “E” as the real estate company and sales agent company of the facts charged of the instant case stated that “E” was a purchase of land to construct an apartment at the H office operated by the victim G in the financial market in Geumcheon-gu Seoul Metropolitan Government, and that “The victim would receive a loan from the PF Fund and pay KRW 50 million of the principal and profit after one month if the purchase work is completed.”

However, among 53 owners of the land in the instant project site, the Defendant only secured a “written intent for sale” stating that he/she wishes to sell the land at the time of carrying out the construction project of an apartment in the future, and there was no project plan for constructing an apartment in the instant project site, and even if he/she received money from the victim since there was no specific agreement with the contractor and the contractor, financial institution, etc. to purchase the land, the Defendant did not have the ability to obtain a PF loan from the said project and to repay KRW 500 million within one month to the victim. The Defendant did not have any financial obligation of KRW 20 million and there was no other asset in bad credit, and there was no intention or ability to repay the said money to the victim even with the Defendant’s personal asset.

On June 22, 2006, the defendant acquired 200 million won by using cashier's checks from the victim.

The lower court’s determination is based on the facts established by the lower court after conducting fact-finding as seen below.