Clues

  1. The story takes place in medieval times. 
  2. The man was a criminal. 
  3. The man dressed up as a monk. 
  4. Rosary was a part of the outfit. 
  5. The man was hanged. 

Solution

The story goes back to medieval times. The man was a criminal, wanted for murder and mugging. Being followed by knights, he tried to hide in a monastery. He gained temporary immunity - blood couldn't be spilled on sacred land. He couldn't stay in the monastery forever, so he dressed up as a monk and ran away. Unfortunately for him, he was recognized because he didn't have a rosary by his belt, which was unusual for a monk from that monastery. He was caught the same day, and not being highborn, he was sentenced to death by hanging, in accordance with the law.