A defendant shall be punished by imprisonment for not more than ten 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

On November 27, 2009, the Defendant was sentenced to one year and six months of imprisonment with prison labor and three years of suspended execution on October 28, 2010 by the Seoul Eastern District Court on the following grounds: (a) a violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud) and a false accusation; and (b) a judgment became final and conclusive

On 6,681 square meters of Vietnam (D; hereinafter “instant land”) around 2005, the Defendant proposed investment of USD 20,000,000 which newly constructs a 5-class hotel on the ground of the instant land to the Vietnam government, and made payment of usage fees of USD 3,00,000 to the company E, a limited liability company E, which it established, by making payment of usage fees of USD 3,00,000, with payment of the above land within 36 months, paid USD 146,982 at the pre-paid expense.

However, around 2008, the Defendant was bankrupt, and did not prepare USD 3 million, the first phase of investment plan, and furthermore, the financial aggravation status was omitted, such as the annual fee and management fee.

As there is little possibility of implementing investment plans by failing to implement normal investment procedures, such as starting hotel buildings, and failing to obtain a land use license certificate (one name ‘North Korea') from the Vietnamese government, the Defendant decided to obtain money by deceiving the money by pretending as if the land shares themselves can be traded.

Accordingly, on November 29, 201, the Defendant made a false contract with the victim H stating that “The Defendant would sell 1,185 square meters of the instant land to USD 29,626” in the “G office,” and that “E would sell and sell the land shares. E would temporarily pay all kinds of taxes at the time of purchase of land, and confirmed that there is no tax in arrears or corporate liability from the Government as the basis of the date of sale and purchase of shares in land A (Defendant) and on December 7, 2011, the Defendant would purchase and sell the land shares between the victim and the victim.”