Basis for calculating the amount of gain under the Act on the Aggravated Punishment, etc. of Specific Economic Crimes at face value where securities are obtained by fraud

Cross-family AI independent reading & axis check

6 of 8 axes matched GPT-6 Astra (OpenAI, codex CLI) · 2026-10-16

As a result of comparing this with an independent reading by an AI of a different lineage (GPT-6 Astra), which read only the original text without seeing the primary reading, 6 of the 8 axes agreed, and the readings diverged on the 4th axis (Form of the test) and the 8th axis (Open question and revisit condition).

Raw responses and comparison record: Protocol · Blind readings (JSONL) · Axis comparison (JSONL) · SHA-256 (JSON)

Lower-court contrast & scope of application

Lower-court reading vs. Supreme Court holding

Lower-court context: The court below, citing the first-instance judgment, found the facts of the crime established, and held that commencement of execution occurs when, having deceived the victims, one demands payment of money or the delivery of promissory notes, checks, or deposit passbooks, and it treated these securities and passbooks as property constituting the object of the offense of fraud. It further took the amount of gain from obtaining securities by fraud to be the face value, and applied Article 3 (1), subparagraph 1 of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes to the fraud offenses set out in '2. Fraud offenses' of the first-instance judgment.

Supreme Court standard: The Supreme Court rejected all grounds for final appeal concerning the rules of evidence, commencement of execution, the character of the items as property, and the calculation of the amount of gain, accepted as it stood the reasoning of the court below that the amount of gain in a fraud offense involving obtaining securities by fraud is the face value, and dismissed all final appeals.

Distinguishing conditions

• A case where the object obtained by fraud is not a security but property without a face value, such as a deposit passbook, so that a separate valuation is required
• A case where what is disputed as the amount of gain is the part in which a pecuniary benefit other than the securities themselves was obtained by means of those securities
• A case where there was no actual acquisition, such as the attempted fraud portion in which execution was commenced but the securities were not delivered

Record verification notes

Before asserting the same conclusion, one needs to check whether the item obtained by fraud is a security bearing a face value, whether the sum of such face values reaches the threshold amounts in each subparagraph of Article 3 (1) of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes, and whether later precedent has viewed the calculation of the amount of gain differently.

From the official text

Points at issue

유가증권 사기범행의 이득액

Summary of the holding

유가증권을 편취한 사기범행의 이득액은 그 유가증권의 액면가액이다.

Order

상고를 모두 기각한다. 상고 후의 구금일수 중 40일씩을 피고인들에 대한 본형에 각 산입한다.

Provisions referred to

특정경제범죄가중처벌등에관한법률 제3조 제1항 , 형법 제347조