I handed over the business, but half a year later, "Give me my money back"... 40-year-old not indicted on fraud charges

Accused of deceiving the complainant by entering into a false contract regarding debt and company equipment
Prosecutors “The accuser can also understand the company as a whole... It is difficult to establish the purpose of deception.”

A man in his 40s who was accused of deceiving the transferee with false information during the business transfer process was acquitted.

On the 8th of last month, the Chuncheon District Prosecutors' Office decided not to indict Mr. A, a man in his 40s who was sent on charges of fraud.

Mr. A was accused of stealing property profits worth 180 million won by lying about the status of customers, company debt, and facility status in the process of signing a business transfer contract with his acquaintance, Mr. B, in July 2024.

It is known that Mr. A claimed at the time that “the company has no debt and owns all assets, including facilities.”

Mr. A completely denied the charges.

He refuted, "Mr. B, an acquaintance of mine for 10 years, decided to take over after already knowing the company's financial status, including sales."

He also emphasized, “It is true that the business rights were transferred, but the list of facilities or goods subject to transfer was not specifically specified in the contract.”

The prosecution accepted Mr. A’s claim.

Since Mr. B visited the company regularly, we judged that he was able to fully understand the overall business.

The prosecution explained, “The suspect continued to work at the business for several months even after transferring the business,” and added, “If he had tried to deceive the other party for the purpose of embezzling money, it would have been difficult to carry out such actions.”

Attorney Heo Jeong-won of Daeryun Law Firm, who represented Mr. A, said, "We actively demonstrated that whether or not a crime of fraud is established must be judged based on the time of the deceptive act," and added, "It was effective to clearly point out the facts that form the basis of the transfer agreement, such as the fact that the debt questioned by the plaintiff is also included in the subject of succession."

#Accident #Fraud #40s #Not indicted

Park Seok-ho (haitai2000@ikbc.co.kr)

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I handed over the business, but half a year later, "Give me my money back"... 40-year-old not indicted on fraud charges (link)