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

Punishment of the crime

"200 Highest 2113"

1. On December 28, 2016, the Defendant made a false statement to the effect that “If the Defendant borrowed KRW 50 million from the operating fund of the E Housing Association to the victim in the (oil) D office of the Victim C’s Operation (B) located in the Jeonsan-gu Seoul Special Metropolitan City on December 28, 2016, the Defendant would give a contract for civil engineering and landscaping among the newly constructed new construction works of the said association on March 30, 2017, with the scheduled date for commencement of the construction work.”

However, the Defendant, at the time, failed to secure ownership of the land for the construction, and was well aware that the construction was not yet selected, so even if the Defendant borrowed KRW 50 million from the victim as operating funds, the Defendant did not have the intent or ability to contract the construction to the victim. The Defendant thought that the money borrowed from the victim was used as the repayment of partnership obligations and the employee’s benefits in the manner of a tentatively named “irreshing” so there was no intention or ability to repay the borrowed money to the victim.

Nevertheless, the Defendant deceptioned the victim and caused the victim to transfer KRW 50 million to the Agricultural Cooperative (F) account in the name of the E Housing Association at the seat, namely, the victim.

Accordingly, the defendant had the E Housing Association receive the property.

2. On July 28, 2017, at the place indicated in the foregoing paragraph (1) around July 28, 2017, the Defendant made a false statement to the effect that “If the Defendant lends KRW 10 million to the victim an appraisal cost related to new construction works of the E Housing Association, he/she may undertake the construction works by obtaining a loan immediately.”

However, in fact, the Defendant did not use the appraisal for land-backed loans from the victim, and did not intend to contract the construction to the victim or to repay the borrowed money to the victim because it was thought that the Defendant would use the borrowed money for repayment of other partnership obligations by the method of “componing”.

Nevertheless, the defendant deceivings the victim as above and caused the victim to do so at KRW 8 million on the same day.