Defendant shall be punished by a fine of KRW 15 million.

If the defendant does not pay the above fine, KRW 100,000.

Punishment of the crime

Although a person who intends to engage in foreign exchange business has sufficient capital, facilities, and human resources to engage in foreign exchange business as determined by the President and registered with the Minister of Strategy and Finance in advance, the Defendant: (a) around June 2018, he/she received money from pro-Japanese B residing in the Philippines and intended to receive money from those who want to do gambling in the Philippines to the Philippines; (b) obtained a deposit of money from the Defendant to the Defendant’s account; and (c) obtained a proposal from those who want to receive money from them to transfer money to the account notified to him/her; and (d) deposited money in the said account by those who want to do gambling in the Philippines, he/she would again transfer money collected from the account to a specific domestic account, and then conduct foreign exchange business without registering it with the so-called “Exchange” method issued by the Minister of Strategy and Finance. (b) When those who want to do gambling in the Philippines deposit money into the Defendant’s account, the Defendant would transfer it to the domestic account managed by B.

On June 26, 2018, the Defendant received 170,000 won from an indivist who wants to remit money to the Philippines via a bank account (Account Number D) in the name of the Defendant, and transferred the amount calculated by deducting certain fees from B to the domestic account managed by B, and the Defendant paid 170,000,000 won in Korea from that time to March 22, 2019 as well as the payment of KRW 4,335,60,000 in total in the same way as indicated in the separate crime list from that time to March 22, 2019.

Accordingly, the defendant, in collusion with B, conducts a foreign exchange business without registration.