A defendant shall be punished by imprisonment for one year.

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

Punishment of the crime

On February 17, 2016, the defendant was sentenced to three years of imprisonment with prison labor for a violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud) in Busan High Court on February 17, 2016

1. B premium fraud Defendant stated, around June 2013, “B” Et in Eunpyeong-gu Seoul Metropolitan Government (hereinafter “instant Et”), that “The victim D (Nam, 46 years old), who was aware of Et acceptance, would have the instant Et business license transferred to the Party so that the Et business license of this case would be operated by transferring the Et business license to the Party.”

However, the Defendant was merely operating the instant marina from “stock company E”, and the victim was required to enter into a contract with the said company instead of the Defendant in order to operate the instant marina business, and the Defendant did not have been delegated or consented to the transfer of the goodwill or the transfer of the right to lease the instant marina business, and rather, the Defendant did not pay the instant marina fees to the said company once a month, even though he did not pay the rent of KRW 8 million each month, and thus, it was difficult to maintain the instant marina business contract or sub-lease contract in a situation where it was difficult to pay the price of the goods properly, and thus, even if having received the money in the name of the goodwill from the victim, the Defendant did not have any intent or ability to transfer the instant marina business right to operate the instant marina business in a normal manner.

Nevertheless, on July 17, 2013, the Defendant, by deceiving the victim as above, received KRW 20 million from the victim with a new bank account (F) in the name of the Defendant, and received KRW 50 million in total from the national bank account (G) in the name of the Defendant on August 1, 2013.

2. On October 2013, the Defendant paid the overdue management expenses to the Defendant: (a) the owner of the building in Eunpyeong-gu Seoul, where the instant marina is located by telephone from the victim; and (b) the building owner of the said building.