A defendant shall be punished by imprisonment for seven years.

The application for compensation of this case is dismissed.

Punishment of the crime

On August 25, 2010, the Defendant was sentenced to the suspension of the execution of imprisonment with prison labor for six months for fraud in this court, and on September 2, 2010, the judgment became final and conclusive.

The Defendant, around June 2009, established and actually operated a company (hereinafter referred to as “G”) that constructs and sells F commercial buildings (hereinafter referred to as “instant commercial buildings”) on the ground of the land of 703 square meters (hereinafter referred to as “instant site”).

On April 14, 2009, when registering a private entrepreneur under the name of the Defendant, the Defendant predicted the cost of the new construction of the instant commercial building to be KRW 17 billion, and concluded a sales contract to purchase the said site from H, the owner of the instant building, for KRW 4.5 billion, and completed the registration of ownership transfer on the instant building site on or around September 14, 2009. On September 14, 2009, the instant housing site purchase amount was financed by the Gyeonggi Mutual Savings Bank from KRW 2.8 billion and paid by the method of acquiring the secured debt of the instant housing site. The cost of the new construction of the instant commercial building was planned to cover the sales price, bank loans, and debentures, etc.

However, the Defendant’s initial business capital was more than KRW 150 million. On September 14, 2009, when the Gyeonggi Mutual Savings Bank had already concluded a sales contract on the commercial buildings of this case at the time of borrowing the above KRW 2.8 billion from the Gyeonggi Mutual Savings Bank, the Gyeonggi Mutual Savings Bank received a loan by making a false statement that “it does not sell the commercial buildings, is receiving only an offer,” and even though the terms and conditions of the loan were “Prohibition against the commencement of the loans before the repayment of the loan,” the Defendant started the commencement from November 201, 209, prior to the date of the commencement of the agreement without the consent of the Gyeonggi Mutual Savings Bank, and was notified by the Gyeonggi Mutual Savings Bank of the loss of interest due to the violation of the terms and conditions of the loan, and became the disposition of the instant land

In addition, the defendant is placed in a commercial building in a daily newspaper.