Defendant shall be punished by a fine of KRW 10 million.

If the defendant does not pay the above fine, KRW 100,000.

Punishment of the crime

The Defendant is the husband of D who is the nominal owner of the instant land, and is the actual owner of the instant land, among the husband of D, who is the nominal owner of the registration of the land in the area of 59,901 square meters and 7 lots (a total of 59,901 square meters; hereinafter “instant land”).

On September 2, 2016, the Defendant entered into a contract with the victim G to sell the instant land in total of KRW 110 million and KRW 990,000,000,000,000,000,000 for the down payment of KRW 110,000,000,000 in the office of “F Real Estate” located in Gumi-si, Si, Gumi, and was remitted from the victim to H bank account (Account Number I) in the same day.

On October 25, 2016, the Defendant changed the terms and conditions of the existing sales contract at the above F Real Estate Office, and entered into a new contract to sell the instant land with the victim to the extent of KRW 1.4 billion in total, including KRW 1 billion in the price of land and KRW 400 million in the price of civil works. Of these, the payment of KRW 800 million shall be substituted by the acquisition of senior mortgage on the instant land and the amount of KRW 400 million in the name of the O cooperative shall be taken over by the victim, and the right to collateral security in the name of P Co., Ltd. of an agricultural company equivalent to KRW 400 million in the secured obligation shall be cancelled by the Defendant until April 25, 2017 to register the ownership transfer to the victim. After the completion of the civil works, the Defendant was provided with KRW 1.1 billion in the account number of KRW 400 million in the amount of the civil works to the Defendant, and received the remainder from the victim on March 14, 2016.

Since Defendant received the down payment and the remainder of the purchase price of the instant land as above, there was a duty to establish additional collateral on the said land to the victim and implement the registration procedure for the transfer of ownership under the terms and conditions of the said contract without establishing additional collateral on the said land.

Nevertheless, the defendant violated the above duties, thereby ensuring the obligation of KRW 80 million against L on December 27, 2016.