However, the execution of the above punishment shall be suspended for two years from the date this judgment becomes final and conclusive.

Around May 21, 2014, the Defendant: (a) offered a bid for the “D Village E System Extension Works,” which is a Jeju Private Capital Support Project, to KRW 242,014,00, the minimum price; and (b) entered into the contract with the victim F, the president of the Jeju Rural Community Center, in the presence of public officials supervising the construction of the Jeju Urban Facility Management Office; and (c) requested the submission of the performance guarantee insurance policy on the terms of contract and advance payment under the condition of contract acceptance; (d) submitted an altered insurance policy under the name of the representative director of the Seoul Rural Guarantee Fund, the Defendant arbitrarily, and submitted it to the victim by submitting the said insurance policy under the condition of contract acceptance; and (e) requested the victim to pay the advance payment for the construction work until December 19 of the same year after commencing the construction work on June 23, 2014, and if so, there is no problem in the return of advance payment because it purchased the guarantee insurance in preparation for the failure to perform the construction work in accordance with the contract.”

However, even if the Defendant received advance payment from the victim, it was thought that the amount equivalent to the advance payment would be used as operating expenses of the Defendant Company, and there was no other means to raise funds from the Defendant Company. On the other hand, the said guaranty insurance policy was modified and null and void, and thus, it did not have the intent or ability to normally proceed with the construction

Accordingly, the Defendant, as seen above, was accused of the victim, and was transferred from the victim to the account under the name of C Co., Ltd. on July 11, 2014, KRW 17 million under the name of the Corporation advance payment.

Summary of Evidence

1. Defendant's legal statement;

1. Each police statement made to F and H;

1. A report on investigation by telephone;

1. Standard contract for private construction works, performance guarantee insurance policy, advance payment application, statement of the terms and conditions of advance payment, advance payment request, copy of passbook, and reply letter of confirmation of the authenticity of guaranty insurance policy, the determination of successful bidder per D Village E shall be known.