Defendant

A shall be punished by imprisonment with prison labor for eight months and by imprisonment with prison labor for ten months.

Punishment of the crime

[criminal records] Defendant B was sentenced to one year of imprisonment with prison labor on December 21, 2017 at the Suwon Friwon, and the judgment became final and conclusive on April 5, 2018.

[Criminal facts] Defendant A is a person who has been operating C Co., Ltd., and Defendant B is a person who has been operating D Co., Ltd.

C Co., Ltd. purchased approximately KRW 8.3 billion from the Korea Land and Housing Corporation, and was promoting the business of establishing a F hotel called "sale-type hotel" on the ground. The Defendants concluded a joint business agreement with G Co., Ltd. and H who shared the down payment for the sale and purchase of the above land, and concluded a joint business agreement with H who shared the down payment for the sale and purchase of the above land.

One Part C Co., Ltd. entered into a trust contract with an I Co., Ltd. to trust the amount of subscription for sale in advance with the above trust company.

The Defendants attempted to sell in advance the remaining land price of KRW 8,30,000,00 which was paid as down payment and the project funds such as hotel construction costs, but did not intend to invite subscription money of KRW 5,90,000,000,000. However, even though J bank, etc. attempted to obtain business funds, the Defendants were unable to normally carry out the above hotel development project and there was no obvious way to raise business funds.

On March 25, 2016, Defendants were only victims at the C Co., Ltd. office and D Co., Ltd office located in Seongbuk-gu, Sungnam-si.

At this time, Defendant B is currently running the F Hotel Development Project of Young-gu, Young-gu, Young-si, and if the development profit is more than 15 billion won and 200 million won, the principal will be paid within three months from the date of the contract, and the investment dividend KRW 200 million will be paid within five months from the date of the contract.

Investment amounts shall be the account of the D Co., Ltd.