A. A. Around September 8, 2011, the Defendant made a false statement to the victim D at the Jinju-si C real estate office stating that “I would sell E land in Jin-si by dividing it into a housing site, and if I would sell 50 million won, I would divide the profits.”

However, even if the Defendant received the investment money, he did not have the intention or ability to distribute profits for the next investment money after developing the said land as a housing site.

Ultimately, the Defendant, by deceiving the victim as above, received KRW 17 million from the victim to the F’s account in the name of the same day under the pretext of investment in the development of housing sites, and transferred KRW 25 million in total to the G account under the name of G.

B. The statement of the police statement as shown in the facts charged in the instant case and the statement of D in the second and fourth police interrogation protocol as to the Defendant, even if the Defendant received investment funds from the victim, it is insufficient to recognize that the Defendant, even if having developed the land indicated in the facts charged as a housing site and did not have the intent or ability to distribute profits therefrom, by means of fraud as if he did not divide profits, and that deceiving the victim by defrauding KRW 25 million as investment money, and there is no other evidence to acknowledge it.

Rather, according to this court and each statement made by the Defendant and the victim in the investigative agency, the victim directly remitted expenses of KRW 25 million to F, etc. to cancel the provisional attachment execution of the instant real estate at the Defendant’s request. After that, the Defendant, while doing construction work to develop the orchard located in Jinju-si, requested the victim to pay development expenses under the plan to develop the instant land as a housing site at the same time. However, the victim requested only the payment of additional investment funds without presenting the detailed estimate necessary for the development.