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

Punishment of the crime

On June 28, 2018, the Defendant was sentenced to six months of imprisonment for a crime of fraud in the Suwon District Court's Sung-nam branch on June 28, 2018, and the said judgment was finalized on October 13, 2018.

The defendant is a person who has operated a mutual real estate investment trust (main)C in Gangnam-gu Seoul Metropolitan Government.

1. Around March 2018, the Defendant against the victim D expressed to the effect that “The Defendant owns 100 square meters in response to Pyeongtaek-si E.” immediately on this land, and currently the Water Services Corporation is proceeding in the process of the Highway. A building up to 15 stories may be sold in mind. By the end, the Defendant sold the purchase price to KRW 300,000 per square meter. The Defendant would sell the purchase price to KRW 90,000 per square meter in a lump sum.”

However, in fact, since the above land was not owned by the defendant or (State)C, there was no intention or ability to deliver the above land to the victim even if the purchase price was paid by the victim.

As such, the Defendant, by deceiving the victim as such, wired the victim with a new bank account (G) in the name of (G)F for the purchase price, to KRW 10 million on April 4, 2018, and KRW 80 million on April 6, 2018, respectively, and acquired KRW 90 million on a total from the victim and acquired by defrauded.

2. Around June 11, 2018, the Defendant against the victim H stated that “If the victim wants to sell the land located in Pyeongtaek-si E to a third party, he/she shall deposit the cost of the provisional contract with the company account to the third party, he/she shall return the said land to the third party. If the contract for the sale of the said land is not concluded, one million won shall be refunded.”

However, in fact, since the above land was not owned by the defendant or the (State)C, it is unlikely that the above land sales contract would be sexually formed even if it was received from the victim, and around that time, the payment to the employees working at the (State)C was not paid properly, and the company operation was not made properly.