A defendant shall be punished by imprisonment for one year.

Punishment of the crime

On July 8, 2015, the Defendant was sentenced to imprisonment with prison labor for six months at the Suwon District Court for fraud, and the judgment became final and conclusive on the 16th of the same month.

On May 3, 2012, the Defendant: (a) purchased the purchase price of KRW 450 million from the victim Sacheon-gun, Hongcheon-gun; and (b) KRW 2030,00,000,000 (hereinafter “each of the instant lands”) for KRW 450,000,000; (c) concluded that the purchase price shall be paid as a lump sum payment on August 30, 2012 after completion of the construction; and (d) on May 8, 2012, if the Defendant borrowed KRW 150,000,000 to the victim as security, the Defendant received from the victim the payment of KRW 15,00,000,000 from the victim on August 30, 2012.

In fraud by discount of bills and checks, where the amount of cash received by the defendant from the victim is less than the face value of bills issued by the defendant, the amount of financial gains acquired by the defendant is not the face value of the bills and checks, but the amount of cash received by the defendant is not the cash amount received by the defendant, unless there are special circumstances, such as where the parties actually receive only the cash amount after deducting the interest and expenses, but make a special agreement for loans for consumption such as setting the rental interest rate, etc.

(Supreme Court Decision 2009Do2384 Decided July 23, 2009). C entered into a loan agreement with the Defendant for consumption of KRW 150 million with G on May 8, 2012, after which it entered into a loan agreement with the bond business operator for consumption of KRW 150 million. G transferred KRW 17 million remaining after deducting the interest and commission for three-month out of the loan amount of KRW 150 million on May 9, 2012 to the Defendant’s agricultural bank account.

Therefore, although the amount actually remitted by the Defendant from G was KRW 17 million, the amount acquired by the Defendant is KRW 150 million, but the Defendant and C entered into a loan agreement for consumption of KRW 150 million with the leased principal, the amount acquired by the Defendant shall be deemed KRW 150 million.