A defendant shall be punished by imprisonment for one year.

except that the execution of the above punishment shall be suspended for two years from the date this judgment becomes final and conclusive.

Punishment of the crime

From June 29, 2010 to September 9, 2011, the Defendant worked as the representative director of the Co., Ltd. (hereinafter referred to as “C”), and C is a corporation to take over duties of public sale and development projects (hereinafter referred to as “instant projects”) for the purpose of acquiring land by directly participating in public sale procedures, such as Seoul Jung-gu, Seoul, in order to recover KRW 13 billion invested by the victim D organization in the development of Seoul E, around April 2010.

On April 20, 2010, the Defendant: (a) borrowed KRW 24 billion from the Mae Savings Bank and the Mae 2 Savings Bank with respect to the instant project under the victim’s credit extension; and (b) instead of carrying out real estate development projects with respect to the real estate for public sale and its premises, the victim agreed to jointly take over C’s loan obligations; (c) control and management of C’s loan execution; and (d) the victim agreed to keep C’s corporate passbook and its seal imprint.

Accordingly, the Defendant kept loans to the G National Bank Account (hereinafter “Loan Account”) established in the name of C, and only after obtaining the victim’s approval for the execution of the funds through H who worked as the joint representative director of C and the managing director of the victim’s corporation, the Defendant agreed to execute the loan. The execution of the remaining funds necessary for C operation was made use of the I National Bank Account (hereinafter “Operation Account”) without the victim’s approval.

Therefore, the Defendant kept the total amount of loans in the loan account for the purpose of using them for the instant business for the victim.

Nevertheless, on August 10, 2011, the Defendant unilaterally notified the victim of the cancellation of the agreement on April 20, 2010. On August 16, 2011, the Defendant reported the loss of the corporate seal impression and loan passbook in C’s account opened by the victim and reported the loss of the corporate seal impression and loan passbook.