A defendant shall be punished by imprisonment for six months.

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

Punishment of the crime

On February 13, 2014, the defendant was sentenced to a suspended sentence of four years on the 21st of the same month in imprisonment with prison labor for the violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud) in the Gwangju District Court's Netcheon Branch.

1. On October 19, 2012, the Defendant stated, “Around 15:00, the victim D is expected to rent electrical companies to the front of the Macheon-si University” in a near the “FF golf range” park located in Ma, Seocheon-si, the Defendant: (a) paid profits from lending money; and (b) received legal loans by establishing a legal entity.”

However, since January 13, 201, the Defendant had already borrowed 70 million won or more from G, in addition to the loan business, real estate purchase, open funds, and the name of establishing solar companies, etc., the Defendant had no intention or ability to repay the total amount of debt. Since the Defendant used the money borrowed from the victim to pay the Defendant’s personal debt rather than using the same as borrowing the money from the victim, the Defendant had no intention or ability to pay the money from the victim.

As above, the Defendant, by deceiving the victim, received KRW 47.5 million from the victim’s account in the name of the Defendant to the Agricultural Cooperative (H) account on the same day.

2. Around 13:00 on January 4, 2013, the Defendant stated, at the place under Paragraph 1, that “The Defendant would have to lend money to the Defendant to the Defendant to the Defendant and to have the Defendant paid the money in return for the payment of KRW 20,00,000,000 to the Defendant.”

However, as at the time of Paragraph 1, the Defendant had a total obligation of more than 1.4 billion won, and the amount to be received from another vessel is limited to the amount of KRW 10 million, and thus, the Defendant did not have any intent or ability to repay the amount even if he borrowed money from the victim.

As above, the Defendant, by deceiving the victim, received KRW 27.3 million from the victim’s account in the name of the Defendant to the Agricultural Cooperative (H) account on the same day.

Accordingly, the defendant deceivings the victim two times.