A defendant shall be punished by imprisonment for one year.

Punishment of the crime

On July 5, 2012, the Defendant was sentenced to imprisonment with prison labor for one year at the Suwon District Court for fraud, and the said judgment became final and conclusive on the 13th of the same month.

The Defendant was a person who operated the ironworks Corporation I, Inc., Ltd., in Ansan-si, a member-si. The Defendant, from around 2010 to around 3.6 billion won, due to the decline in construction competitions and the aggravation of financial standing, etc., and paid not less than KRW 45 billion per month interest on the money borrowed from financial institutions. A promissory note issued to resolve the above debts and the construction cost reaches approximately KRW 2.0 billion and paid a refund of the bill.

1. On November 15, 2010, the Defendant made a false statement to the victim J on November 15, 2010 that “The construction cost of the K building metal construction, the Incheon International Airport Search and Railroad Construction Site Construction Work will be paid in a promissory note.”

However, the Defendant did not have any intent or ability to make a settlement on the date of payment, as the Defendant had economic difficulties as above.

As such, the Defendant, by deceiving the victim, had the victim complete construction works at the end of December 2010, and the search station railing installation works at the end of January 201, 201, and had the victim obtain pecuniary benefits equivalent to the construction cost by having the victim make a final payment of promissory notes worth KRW 13,7820,00,00 from November 15, 201 to February 1, 201, as shown in attached Table 1 of Crimes List 1.

2. On August 31, 2010, the Defendant made a false statement to the victim L on August 31, 2010, stating that “The price of the raw materials supplied to the victim L will first be issued a promissory note. A promissory note will be paid without any molding the due date.”

However, in fact, the Defendant was under such circumstances as above, and thus, it is possible to settle the payment on the date of payment even if the promissory note is issued.