A defendant shall be punished by imprisonment for four months.

However, the execution of the above punishment shall be suspended for one year from the date this judgment becomes final and conclusive.

Punishment of the crime

Around March 11, 2010, the Defendant, at a restaurant operated by the victim C in Gangnam-gu Seoul Metropolitan Government, made a false statement to the effect that “D” is to be acquired by the victim as “D,” a KOSDAQ-listed company operated by another person. If only KRW 20 million is available, the Defendant may take over the company. The Defendant borrowed money to the effect that “I will repay KRW 30 million later than two weeks.”

However, in fact, the Defendant was unable to prepare a total of KRW 11 billion for the acquisition price of “D”, and was faced with financial difficulties by having an in-house bondholder raise funds, and even if the Defendant borrowed money from the victim due to the absence of particular assets, there was no intention or ability to pay the principal and interest normally even if he borrowed money from the victim.

Ultimately, the Defendant, by deceiving the victim as above, received KRW 20 million from the victim, to the Agricultural Cooperative Account under the name of the Defendant, around March 12, 2010.

Summary of Evidence

1. Defendant's legal statement;

1. Each police statement of C and E;

1. Each complaint filed, each account transaction details, and each detailed statement of financial transactions;

1. A report on investigation, and a detailed statement of transactions;

1. Application of each statute on a loan certificate;

1. Relevant Article 347 (1) of the Criminal Act, the choice of criminal punishment, and the choice of imprisonment;

1. The reason for sentencing under Article 62 (1) of the Criminal Act (hereinafter referred to as the "justifiable circumstances") of the suspended sentence;

1. Scope of applicable sentences under law: One month to ten years of imprisonment;

2. Reduction elements of less than KRW 100,00 (Specially Convicted Persons) below KRW 100,00 for fraud (type 1) according to the sentencing guidelines: Reduction area of mitigation area (the scope of recommending area and recommendation range), imprisonment with labor for one month or one year;

3. Determination of sentence: The sentence shall be determined as ordered by taking into account the following circumstances: the Defendant’s age, character and conduct, family relation, home environment, motive and means of the crime, and the circumstances after the crime.