A defendant shall be punished by imprisonment for seven years.

Punishment of the crime

The Defendant is the head of the “E” branch office, both inside directors of the Yeongdeungpo-gu Seoul Metropolitan Government and C Co., Ltd. (hereinafter “C”) established for the purpose of electronic commerce business in the 23th floor.

1. On November 21, 2012, the Defendant made a false statement to the victim F, stating, “The Defendant would make an investment of more than KRW 10,000 in the business with D’s representative C’s FX M& brokerage business, etc., and would make an investment of more than KRW 10,000 in the business, etc., and pay 2% of the monthly investment amount as dividends.”

However, in fact, D has no assets or profit-making business to pay high-rate earnings to the victims, and there was no possibility of realizing considerable profits within a short period due to lack possibility of success, and there was no possibility of realizing the investors' investments in the following methods: (a) around February 2008, G Co., Ltd., and (b) around October 2014, after establishing a foreign corporation from around September 201 to conducting overseas business, such as FX M&M brokerage business; and (c) from around September 2, 201, there was no business revenue deposited into domestic accounts from a foreign corporation from September 2, 2016 to around September 2, 2016; and (b) since around December 2011, it did not have the ability to use the investment funds from many investors, including victims, for the purpose of investment in a business operated by FX M& brokerage business, or for repayment of the principal and interest (i.e., the principal and interest).

The Defendant is the head of the “E” branch of C’s internal director and C’s branch, and the Defendant is the head of the FX M&C brokerage business, and it is appropriate to properly invest investors’ investment funds in the FX M&C brokerage business, and how much the profits from the FX M-based brokerage business, etc.