1. The defendant shall be punished by imprisonment for not less than three years and six months;

2. The Defendant shall apply to D for compensation of KRW 20,000,000 and the applicant for compensation.

Punishment of the crime

"2012 Highest 720"

1. On April 10, 2009, the Defendant made a false statement to the effect that “The Defendant would divide the land price of KRW 200 million by winning a successful bid into the land of KRW 200 million if he/she invested in the land of KRW 200 million.”

However, in fact, although the Defendant received a loan or an investment and planned to prepare an amount equivalent to KRW 2.1 billion of the successful bid price, the Defendant had already been in an urgent situation to repay obligations and personal debts to the existing investors and banks, and even if the Defendant received an investment from the victim, he did not have the intent or ability to proceed with other canal services by winning the said land at a successful bid, even if he did not receive an investment.

The Defendant received from the victim a total of KRW 60 million as a bid bond for the same day, KRW 70 million as the balance on April 30, 2009, KRW 30 million as the same name on May 4, 2009, and KRW 200 million as the same name on May 25, 2009, respectively, from the national bank account (M) under the name of the Defendant.

Accordingly, the defendant was given property by deceiving the victim.

2. On May 26, 2009, the Defendant made a false statement to the effect that “B” located in N in the Won-si, the Defendant would make an investment of 50% of the development profits in the share of 50% in the case of investing 50 units per 10 million won per one unit of the original capital, as the Defendant would make an auction from the original state branch of the Chuncheon District Court to develop 9 parcels outside the limit of 10 million won.”

However, in fact, the Defendant did not have any funds available for winning the said real estate, and there was no other method of financing. Since there was an obligation and an individual debt to the existing investors in need of repayment, even if the said real estate was invested by the victim, there was no intention or ability to distribute the profit by developing the said real estate.