Defendant

A Imprisonment with prison labor for a year and two months, and for a defendant B, for a period of ten months.

However, this judgment is delivered against Defendant B.

Punishment of the crime

Defendant

On January 19, 2017, A was sentenced to imprisonment for one year and six months as a crime of fraud in the Daejeon District Court's Incheon District Court's Branch on January 19, 201, and the judgment became final and conclusive on October 12, 2017.

Defendant A, “2017 Highest 2018,” is a person who engages in the business of selling or developing real estate in the name of (ju) K and (ju) L from the fifth floor of the Gangnam-gu Seoul Gangnam-gu J building.

No one shall engage in any similar receipt of investments that a person agrees to pay the total amount of investments or an amount in excess thereof to an unspecified number of unspecified persons in the future without obtaining authorization or permission, making registration, or making a report, etc. under Acts and subordinate statutes.

Nevertheless, on June 24, 2015, Defendant A explained to the victim M, etc. that “The company operates a building sales business, is planning to sell apartment houses in the vicinity of the hotel, and is also constructing apartment buildings in the vicinity of the hotel. However, if the business fund is insufficient and one million won per old unit is invested by several people, the amount equivalent to 5% of the investment is to be paid as profit for the five-day period until the principal and interest reaches 120%.”

Accordingly, on June 24, 2015, Defendant A was granted KRW 123,260,000,00 as an investment amount, from June 24, 2015 to December 30, 2015, including the transfer of KRW 3 million from the victim M to the N association account in the name of K, as well as from June 24, 2015 to June 30, 2015.

Accordingly, the defendant committed a similar act without obtaining the approval or permission from the competent authorities.

"2017 Highest 2077"

1. Defendant A and Defendant B’s joint crime is the representative of a legal entity that engages in real estate sale and development business on the fifth floor of the Gangnam-gu Seoul Gangnam-gu Seoul J building, and all of the affairs such as company operation and fund management.