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 July 10, 2013, the Defendant prepared and submitted a letter of commitment to the effect that the Defendant did not receive a loan from other financial institutions while applying for a loan with a maturity of 40 million won, interest rate of 8.3% per annum, and a maturity of 1 year at the office of the victim’s future life insurance company located in Geumcheon-gu, Seoul Special Metropolitan City.

However, the Defendant, on July 9, 2013, took out loans of KRW 50 million from the new bank on the same day as the 38 million won from the Hansung Life on the same day, and 433 million won from the Nonghyup Bank on the 10th of the same month on the 10th of the same month, and took out loans of KRW 133,130 million in total, and paid approximately KRW 1,500,000 out of the monthly income of KRW 2.5 million as the interest on the above loans without any particular property, and there was no intention or ability to repay the loans even if the Defendant received the loans from the victim.

Nevertheless, the Defendant, upon filing an application for a loan as if he had the intent or ability to repay, submitted a letter of commitment to the effect that there is no existing details of the loan as above, and thereby, acquired KRW 40 million from the victim to the Agricultural Cooperative Account under the name of the Defendant on the same day.

Summary of Evidence

1. Partial statement of the defendant;

1. The legal statement of the witness C;

1. A letter of undertaking;

1. Credit information inquiry;

1. Details of passbook transactions;

1. The defendant and his defense counsel denies the criminal intent of defraudation. However, according to each of the above evidence, the defendant received loans of KRW 50 million from the new bank prior to the date of the instant loan, KRW 38 million from the Hansung Life, and KRW 43,33 million from the Nonghyup Bank prior to applying for the instant loan on the same day as the date of the instant loan, and the defendant intentionally received loans of KRW 40,000 from several financial institutions prior to the instant loan, and the defendant intentionally concealed such facts.