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

Punishment of the crime

On March 3, 2011, the Defendant proposed an investment made an investment to the victim C by providing that “The Defendant would purchase the commercial building located in Chungcheongnam-si, Gangnam-gu, Seoul, but after investing in the buyer the down payment of KRW 190 million,00,000,000 from the financial institution as security, the Defendant would receive the down payment and the proceeds from the loan from the financial institution. The Defendant would pay the money to be used as the down payment by 40% of the investment profits within one month following the conclusion of the sales contract.”

The Defendant had the intent to invest KRW 50 million in the victim, but it was desired to directly confirm whether to conclude a sales contract for the above building at the site and pay investment money. On March 22, 2011, the Defendant was waiting in a nearby coffee shop in which the Defendant, such as F, etc. had agreed with the victim on the conclusion of the contract with the owner of the above building on March 2, 2011 and did not contact that “the sales contract was concluded” from F, and the Defendant did not have any intent or ability to pay investment profits to the victim by implementing the sales contract, even if the contract was concluded without actual receipt of the down payment, even if it was anticipated that the size of the down payment would reach more than KRW 100 million.

Nevertheless, the Defendant, once receiving money from the victim, said that “a sales contract was concluded” was the victim’s intent to compensate for the expenses, such as a simple appraisal fee of KRW 30 million used for evaluating the value of the subject matter of trading at a higher level than actual ones, and, in other words, by means of dives from the victim who believed that it was “a sales contract was concluded.”