Defendant

A A shall be punished by a fine of KRW 5,000,000, and by a fine of KRW 1,000,000,000, respectively.

Defendant .

Punishment of the crime

Defendant

A is a director with the power of representation of social welfare foundation B (hereinafter referred to as "B") located in Busan-gun E, and Defendant B is a corporation established on August 11, 2009 for the purpose of establishing and operating welfare facilities for older persons.

1. Defendant A

A. As a representative of the victim B, the Defendant was engaged in occupational duties that should not cause damage to the Foundation, such as selling at reasonable prices when selling the property of the Foundation.

On April 19, 2013, the Defendant filed an application for permission to dispose of basic property to sell the building and land, which is the basic property of the victim B, to Busan City, for the purpose of securing corporate operating expenses, for viewing Busan City. On May 27, 2013, the Defendant obtained permission to view Busan City around May 27, 2013.

On July 5, 2013, the Defendant entered into a contract for the sale of the above land and buildings with the Defendant-friendly G around July 5, 2013. The above contract is paid KRW 50 million at the time of the contract, but the remainder KRW 100 million is paid in March 20, 2014, and documents necessary for the registration of ownership transfer are issued simultaneously with the receipt of the remainder.

“.......”

However, on July 19, 2013, the Defendant did not receive the down payment and remainder, unlike the above contract terms, and transferred the ownership of the land and building to G.

In addition, G entered into a contract to purchase the above land and buildings at the request of the defendant without economic means to purchase the above land and buildings, and received the registration of transfer of ownership by taking the above land and buildings as collateral on July 24, 2013, and after receiving the registration of transfer of ownership, G paid KRW 50 million to the victim B in the name of the down payment, and did not pay any balance.

Accordingly, the Defendant, in violation of the above duties, sold the victim B’s property at KRW 150 million to G and did not receive the down payment and remainder in full, transferred the registration of ownership transfer to G, and thereafter made the said land and buildings available as security at the latest.