A defendant shall be punished by imprisonment for not less than two months.

Punishment of the crime

On May 11, 2018, the Defendant was sentenced to three years of imprisonment for fraud, etc. at the Seoul Eastern District Court, and the said judgment became final and conclusive on September 28, 2018.

The defendant is the representative director of the "D Co., Ltd." that received investment funds under the ice mining development project, who has overall control over the affairs such as the explanation of investment, receipt of investment funds, and fund management.

around July 2016, the Defendant recruited a small-sum investment fund from the above company office located in Guro-gu Seoul E 1206 to the victim F in order to develop old-dried gold mines in African owned by G, a subsidiary company of the D Co., Ltd.

D The value of the shares of KRW 10,000 per share of KRW 10,000 per share shall be increased to KRW 5,000 per share, and it may not be required to make an investment if late.

Dividends are 100% of the principal amount, 200% of the principal amount on the two-year basis, and 890% on the three-year basis.

In order to make an investment, this mine development was also conducted, and it was made a false statement to the effect that the profit would be paid by investing in virtual currency.

However, at the time, even if the Defendant received money from the injured party as investment money, the Defendant did not have any intent and ability to make conclusive payments for 100% once, 200% for 3rd vehicles, and 890% for 3rd vehicles every year, and such profit-making business cannot be actually carried out. In fact, Africa’s gold mine development business promoted by the Defendant with H is not only unclear, but also was extremely weak compared to the amount of money received, and there was no profit therefrom.

Therefore, it was the next priority investment that received the investment money by the so-called "return prohibition" method that pays the profits to senior investors, and in such a way, it was eventually impossible to pay the investment funds to investors.

Nevertheless, the defendant is the victim as above.