The Defendant was provided with stocks by lending money to a company which intends to obtain a loan as collateral, and did not keep stocks as collateral, unlike an agreement, immediately sold stocks at a higher price in the stock market and received profits equivalent to the difference between the market price of secured stocks and loans.

On September 4, 2014, the Defendant concluded a false statement to the effect that “The Defendant would lend KRW 100 million to the representative director D of the victim C as security when offering 900,000 shares of Manaco Co., Ltd., and return the said shares received as security when repaying the loan in October 4, 2014.”

However, the Defendant had no intention to keep the shares as collateral because of the fact that there was an economic difficulty, such as the Defendant’s burden of the obligation equivalent to one billion won at the time, which was offered as a security by the victim, immediately sold the shares at a high price and there was no intention to repay the personal obligation.

The Defendant, by deceiving D as above, received KRW 1,606,500,000 at the market price owned by the victim (i.e., KRW 900,00 x KRW 1,785 per share) equivalent to the above 1,60,00 at the market price owned by the victim and acquired it by deception.

Summary of Evidence

1. Defendant's legal statement;

1. The suspect interrogation protocol of the prosecution against E, statement of the police against F, and complaint of D;

1. Application of Acts and subordinate statutes to each trade report, written confirmation, loan certificate, certificate of borrowing, detailed statement of details of transactions, settlement statement, date and place of transaction, details of entry and exit transactions, profit and loss by date and realizing each day, and separate share price;

1. Grounds for sentencing under Article 3 (1) 2 of the Act on Special Cases concerning the Punishment, etc. of Specific Economic Crimes and Article 347 (1) of the Criminal Act for the relevant criminal facts;

1. Scope of applicable sentences under law: Three years to thirty years; and

2. Application of the sentencing criteria [Determination of types], Type 3 (at least 500 million won, and less than 5 billion won) (the scope of the recommendation field and the recommendation range].