A Imprisonment for four years, imprisonment for three years and six months, and imprisonment for one year and one year and one year, respectively.

(b).

Defendant

At around May 2016, A and C conspired to receive investments from investors through similar receiving acts, such as paying a high-rate dividend through a mushroom growing business against many unspecified persons and inviting investors on condition that the principal of the investment is guaranteed. Defendant A, as the representative director of AC (hereinafter “AC”) and AD (hereinafter “AD”), established for the purpose of growing and selling mushrooms on the fifth floor of the building AB in Busan Metropolitan Government, has overall control over the business of each of the above companies, and Defendant V, as the president of each of the above companies, shared the role of taking charge of investor recruitment, management, and management of investment funds.

On the other hand, from the beginning of July 2016, Defendant U was in charge of other remaining businesses such as accounting as the office chief of each of the above companies.

1. Joint crimes committed by Defendant A and V;

A. From June 10, 2016 to July 1, 2017, the Defendants were to make a fraud at the said AD office from around June 10, 2016 to around July 1, 2017, and the victim AE created high profits by operating the said AD office, “In the event that an investment is made, 10% of the principal of the investment and 5% of the dividend shall be paid as an investment allowance on the date of the investment, and 5% of the total amount of the investment shall be paid as dividends for the three months thereafter. From four months after the investment to four months, the principal of the investment shall be repaid in full without dividends.

“The phrase “ was false.”

However, in fact, each of the above companies was established without capital in order to depend on the borrowed money and the investors’ investments. The Defendants did not have any particular knowledge about growing and selling mushroom, so it was not clear whether the profits accrued therefrom. Moreover, since there was no profit-making business other than five farms, and the investment money received from the priority investors after the fact that the business was operated in a structure that redeems dividends and principal to senior investors, the Defendants are new investors even if they receive the investment money from the damaged investors.