A defendant shall be punished by imprisonment for six months.

Punishment of the crime

On March 24, 2006, the Defendant: (a) filed for registration of the establishment of the right to collateral security with the maximum amount of 60 million won with the mortgagee C and the maximum amount of the bonds with respect to the 102 Da Da Da Da Da Da Da 102 (hereinafter referred to as “this loan”); (b) borrowed 60 million won from the victim due to the reasons such as failure to pay the debt to the victim; (c) in addition, the Defendant failed to pay the debt to the other creditors; and (d) requested the lessee residing on this loan to return the deposit amount of 18 million won with the intention of the other creditors; (d) requested the cancellation of the right to collateral security; and (e) provided the other bond business operator with the loan borrowed the money as security and used it to pay the debt.

On August 17, 2010, the Defendant obtained financial benefits equivalent to the same amount by having the victim cancel the registration of the establishment of the right to collateral security with C and the maximum amount of the claim amount of KRW 60 million on August 17, 2010.

However, in fact, if the injured party cancelled the registration of the establishment of the right to collateral security, the Defendant borrowed the money as collateral to another bond company and then intended to use it to repay other debts than the injured party, so even if the injured party cancelled the registration of the establishment of the right to collateral security, the Defendant did not have any ability or intent to repay the money to the injured party.

Accordingly, the defendant deceivings the victim and let the victim cancel the registration of the establishment of the right to collateral security, thereby acquiring the pecuniary benefits.