Defendants shall be punished by imprisonment for one year.

However, as to the defendants, the above two-year period from the date of this judgment became final and conclusive.

Punishment of the crime

As to the facts charged of this case, the following facts were partly revised without the amendment process of indictment to the extent that it does not disadvantage the defendants' defense rights, based on the circumstances acknowledged by the evidence duly examined by the court.

From August 2013, Defendants were engaged in the business of selling in lots, raising funds, etc. of C Hotel while substantially jointly operating D Co., Ltd. (hereinafter “D”) and E Co., Ltd. (hereinafter “E”) holding C hotel and Ri (hereinafter “C hotel”) from around 100 to 300.

1. On May 9, 2015, the Defendants established the right to collateral security (F-ho, G-ho, and H-ho-mortgage) concluded a sales contract with the victim J for KRW 104,65,00 with the C hotelF at the C hotel sale office located in Gangnam-gu Seoul Metropolitan Government on May 9, 2015, and concluded the sales contract with the victim J for KRW 11,465,52 as the down payment on May 9, 2015 by the victim JJ, and received KRW 40,862,208 as the intermediate payment on May 19, 2015, and received KRW 40,862,208 as indicated in the attached Table Nos. 1 through 3 of the List of Crimes and received the remainder and the intermediate payment on the fixed date, and at the same time, performed the registration procedure for the transfer of ownership to the said victims.

Nevertheless, on April 20, 2016, the Defendants offered C hotel F heading, G heading (victim K), and H heading (victim L) as joint collateral, and borrowed money to the right holder M with the maximum amount of KRW 360,000,000 for the bonds at the same time.

Accordingly, the Defendants conspired to obtain property benefits equivalent to 43,650,000 won equivalent to the security value of the secured claim under the above F, which is provided as joint collateral in violation of the above occupational duties, and thereby inflicted damages equivalent to the same amount on the victim J, as well as to the victims listed in the attached list Nos. 1 through 3 of the crime sight table.