"2019 Highest 3202"

1. Around February 2017, the Defendant: (a) stated that “A victim B, who was aware of the fact, is engaged in the internal fund investment and management business; (b) made an investment in the private equity fund to return 12 percent of the profits and principal of the investment, after one year after making an investment in the private equity fund at around February 2017.”

However, in fact, the defendant thought that he would use the money received from the victim as the personal business fund of the defendant, and there was no idea to invest in the private equity fund, and there was no intention or ability to return the money received from the victim within the time limit.

As such, the Defendant, by deceiving the victim as such, received money from the victim to the Cbank account (D) in the name of the Defendant under the name of the victim for the purpose of investment, from the victim, and acquired it by defrauding KRW 300 million on February 27, 2017, and KRW 100 million on February 28, 2017.

2. On April 1, 2018, the Defendant stated that “The principal shall be KRW 400 million if an existing investment is made, and the principal shall be returned to the victim’s interest and the principal of the investment shall be 12 percent after one year.”

However, the defendant did not have any intention or ability to return the money received from the victim within the time limit, such as the statement in Paragraph 1.

As such, the Defendant, by deceiving the victim as such, received money from the victim to the Cbank account (D) in the name of the Defendant on April 1, 2018, from the victim for the purpose of making investments, and acquired it by fraud.

Around May 2019, the Defendant made a false statement to the effect that “The amount of taxes to be paid in the future is KRW 7 billion.” However, the Defendant would have paid KRW 1.7 billion by adjusting with the tax authorities: Provided, That if the amount of taxes to be paid in the future is short of KRW 1.5 billion out of KRW 1.7 billion, it would have to be repaid within four days.”