A defendant shall be punished by imprisonment for not less than eight months.

Punishment of the crime

The Defendant listened to the fact that a large amount of funds is urgently needed for the victim B to carry out the apartment development project, and told the victim to obtain a loan from the victim in a short period because he knows that he/she operates a large amount of funds, thereby making the victim know that he/she would be able to obtain a loan to the victim in a short period.

1. At around 16:00 on April 28, 2016, the Defendant stated that “the amount of KRW 230-25 billion may be loaned to the victim B within 10 days if the agreed deposit amount is KRW 200 million,” and that “the amount of KRW 1.5 billion may be raised if the agreed deposit amount is paid up to KRW 60 million” to the victim B at the coffee shop near the Sejong Culture Center located in Jongno-gu Seoul Metropolitan Government.

However, the defendant received 60 million won from the victim and borrowed 55 billion won from the victim for 3 days the number of 5 billion won, not the agreed amount, and the remaining 5 million won, and there was no intention or ability to raise business funds.

The Defendant, as such, by deceiving the victim, was given KRW 5 million in cash from the victim, that is, around April 28, 2016, and around 09:30 on April 28, 2016, the Defendant received KRW 55 million in total from the E Bank near the Seocho-gu Seoul District, as an agreed deposit for loans.

2. Although the Defendant promised to borrow KRW 23 billion as above, the Defendant did not receive certain income while failing to comply with the said promise, and did not borrow money with no property, but with the ability to repay the loan, and the Defendant did not make a false statement that he/she would be able to continue to borrow money when he/she did not have the intent or ability to repay the loan, and would be able to receive money from the victim.

The defendant is in Jongno-gu Seoul around August 25, 2016.