A defendant shall be punished by imprisonment for one year.

Punishment of the crime

On October 9, 2009, the defendant was sentenced to five years of imprisonment with prison labor at Seoul High Court on the violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud), and the above judgment became final and conclusive on January 28, 2010.

The defendant was a representative director of E Co., Ltd.

1. Around March 9, 2007, the Defendant stated that “At the office of the victim G in Jongno-gu Seoul Metropolitan Government Government Government Building No. 307, the Defendant entered into the present H commercial building sales service contract and carried out the sales agency business,” and that “on the face of the loan of the money as the deposit amount of KRW 3,000,000,000 is necessary, the amount of KRW 500,000 per store shall be guaranteed as profits, and the borrowed money shall be repaid until August 30, 2007.”

However, while the defendant was engaged in the above commercial building sales agency business, there was no other financial power in the situation where he acquired the amount equivalent to KRW 13,400,000 from many victims who already purchased the above commercial building under the pretext of the sale price, and it was so-called the so-called "lacing" method by raising funds from many people under the pretext of the loan or the sale price for commercial building sales. Therefore, even if he borrowed money from the victim, it was not possible to give the benefit of the victim's promise, and the loan money did not have an intent or ability to pay it normally on the date of promise.

Nevertheless, the Defendant, by deceiving the victim as above, received a total of KRW 3,000,000,000 from the victim on March 9, 2007 and March 12, 2007.

2. On July 25, 2007, the Defendant: (a) around 2007, at the 17th H sales office of the 17th floor of the I building in Jung-gu Seoul, Seoul; and (b) at the victim’s 30 units of H commercial buildings, where the Defendant loaned money to the victim for sale.

30,000,000 won for the sale of the old account, the remainder of the intermediate payment and the first intermediate payment except for commercial buildings down payment and the first intermediate payment shall be paid at a cost, and the borrowed money shall be lent at a cost.