A defendant shall be punished by imprisonment for not less than one year and six months.

Punishment of the crime

On July 22, 2011, the Defendant was sentenced to a suspended sentence of ten (10) months of imprisonment for fraud at the Seoul Central District Court, which became final and conclusive around that time, and the operator of F Co., Ltd.

On January 20, 2010, the Defendant, at the H office located in Gangnam-gu Seoul Metropolitan Government, made a false statement to the victim I and J that “If an obligor to the bank fails to repay the debt, the bank has the authority to dispose of the movable and immovable property which it received as security for the debt,” such bank’s claims are non-performing loans. If a teacher or savings bank purchased an apartment in the Gyeonggi-do Leecheon-do, which was backed by the security for the non-performing loans, and then sold an apartment through auction, then the apartment can be seen as equal to the difference between the non-performing loans purchased from the bank and the auction proceeds. When investing in the purchase of a non-performing loan, the Defendant would pay 10% of the investment amount first after the month from the date of investment, and use the investment amount for ten months, and then repay the principal along with the profits equivalent to 36% per annum.”

However, since the defendant was unable to raise funds for the purchase of the above non-performing loans, the defendant did not enter into a contract for the purchase of non-performing loans with teachers' or savings banks, and he thought that the funds invested from the victims were used as his personal debt repayment, so even if he received the investments, he did not have any intent or ability to repay the principal and profits to the victims.

On January 28, 2010, the Defendant received one copy of the check from the victim I via the victim J on January 28, 2010, and received KRW 120 million from the victim J on February 2, 2010 from the victim J to the corporate account of the said company foreign exchange bank. The Defendant received KRW 35 million from the said bank account on February 11, 2010.

Accordingly, the defendant deceivings victims, thereby deceiving 275 million won in total.

Summary of Evidence

1. The defendant in the first trial record;