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Defendants are not guilty. The summary of the judgment against the Defendants is publicly announced.
Reasons
1. The summary of the facts charged is that Defendant A is the representative director of Dong-gu E (ju) Dong-gu, Dong-gu, Seoul, and Defendant B is the vice president of the above company.
Defendant
A’s sole criminal conduct (1) on June 7, 2007, the Defendant stated that “If the Defendant lent KRW 400 million to the F business fund, the Defendant would set up a collateral on the F’s real estate and pay interest of 2.5 percent per month to the Defendant at the office located in the company office located in Seo-gu, Seo-gu, Seocheon-gu, Seocheon-gu, Seoul Special Metropolitan City, 2007.”
However, while operating the above company, the defendant was liable for the total amount of KRW 1,50,000 to the individual creditors, such as I, and the defendant was responsible for the debt amounting to KRW 8,000,000,000,000 per month to the new savings bank, and the above company's employees were unable to pay the above company's benefits properly. The apartment execution project on the land located in J was not implemented in the situation where the additional fund was needed, and the procedure for applying the business approval was not implemented. Since the above land on which the defendant promised to establish the right to collateral security was the value of KRW 2,30,000,000,000,000,000 to the victim, the defendant did not have any intent or ability to pay the principal and interest even if he borrowed money from the victim.
As such, the Defendant made a false statement to the victim and received KRW 400 million from the victim to the one bank account (K) in the name of the said company around June 7, 2007.
(2) On July 8, 2008, the Defendant stated that “A house and B house have been sold by auction at the above company’s office” to the victim “on July 8, 2008, the Defendant shall be paid without molding if he/she borrowed KRW 300 million.”
However, at the time, the defendant was not in the situation where the house was owned by auction, and the total amount of KRW 9.5 billion was borne by the defendant as described in the preceding paragraph, and the apartment execution project was also in the situation where it was no longer progress.