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1. The Defendant shall pay to the Plaintiff KRW 50,00,000 and the interest rate of KRW 15% per annum from December 20, 2016 to the date of full payment.
Reasons
1. Basic facts
A. On February 1, 2007, the Defendant authorized the Plaintiff to make an investment in Cambodia’s land purchase project (hereinafter “instant project”). On February 12, 2007, the Plaintiff transferred KRW 50,000,000 to the Defendant on February 12, 2007, and entered into a real estate investment contract (hereinafter “instant contract”) with the Defendant on March 27, 2007.
The content of the contract was that the Defendant purchased farmland of 292,623 square meters in Cambodia, a site for application to be transferred by Cambodia, in USD 1,756,375, and then sold the farmland immediately after reclaiming it.
B. Around 2015, the Defendant was indicted on suspicion of fraud, etc. with respect to E that invested KRW 300 million in the instant business and was sentenced to a suspended sentence of two years on August 9, 2017.
[Seoul Central District Court 2015Da8000, 2016Kadan5155 (Joint)). The criminal facts of fraud in the above judgment regarding E are as follows: (a) not only is it clear whether the Defendant or F, a local partner of the Defendant, actually entered into a contract for the purchase of the site and paid the down payment, but also there was no actual measure regarding the financing of the cost of other applicant transfer projects expected to reach at least a few times as well as the remaining intermediate payments and remainders; (b) there was no official business approval from the Cambodian Government; and (c) it was thought that the victim’s investment funds are used for personal purposes, such as the Defendant’s personal debt or stock investment, and thus, there was no intent or ability to pay the proceeds promised to the victim even if the victim received the investment funds from the victim.
The defendant's appeal against the above judgment is currently pending in the appellate court as Seoul Central District Court 2017No2962.
C. Defendant and F were indicted for committing a crime that solicits investments in Cambodia to conduct a rice farm business without any intent or ability to pay the principal, and that he/she collected such investment. The Defendant on October 13, 2017.