A defendant shall be punished by imprisonment for not less than eight months.

However, the execution of the above sentence shall be suspended for a period of two years from the date this judgment became final and conclusive.

Punishment of the crime

The Defendant, who was the representative director of pipeline and steel retail chain B, intended to borrow money from C in order to use the outstanding amount to pay to the customer as debt repayment and company operation funds, and concluded a contract with C in order to provide the insured with the amount equivalent to the guaranteed money borrowed from C and Seoul for the purpose of securing the contract. However, the Defendant did not conclude a guarantee insurance contract for the simple monetary consumption lending and lending in Seoul Guarantee Insurance, and submitted a false goods supply contract and received the guaranty insurance policy.

Accordingly, on September 27, 2013, the Defendant: (a) prepared a false goods supply contract stating that “C shall purchase goods from a third-party seller and supply B to a stock company; and (b) Company B shall pay to C” even though the Defendant was simply a mere consumption loan; (c) submitted the said goods supply contract to the person in charge of subscription for the guaranteed insurance at the victim Seoul Guarantee Busan Branch as if the said contract was a normal commercial goods supply contract; and (d) issued the guaranteed insurance policy to the Seoul Guarantee Insurance Co., Ltd. (the Seoul Guarantee Insurance Co., Ltd.) from September 27, 2013 to September 26, 2014 that “The Seoul Guarantee Insurance Co., Ltd. will pay KRW 120,000,000 to the credit of the insured Co., Ltd., Ltd. to the insured Co., Ltd. (the sales price of goods) to which the guaranteed insurance contract was issued to the Seoul Guarantee Insurance Co., Ltd. (the sales price of goods) after concluding the contract (the contract renewal September 19, 2019).

Since then, the Defendant borrowed money from September 30, 2013 to January 30, 2015, and only partially repaid the money, and C Co., Ltd. shall be the victim of March 16, 2015.