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

Punishment of the crime

On November 10, 2009, the Defendant established and operated a stock company for the purpose of consulting with financial assets in the Seo-gu Office of Gwangju, Seo-gu, Gwangju. After completing the registration of investment advisory business and discretionary investment business on November 17, 201, the company’s trade name is changed to D, and the above company’s representative director has overall control over its business such as investment fund management.

As above, the Defendant used the investment money received from investors as capital because it failed to secure 2.3 billion won in capital necessary for the establishment of a corporation aimed at investment advisory business and discretionary investment business, and as such, it was difficult to pay investment profits to investors on the wind that the investment money is used as capital, the Defendant was willing to receive money from other persons in exchange for the return of the investment principal and profits to existing investors.

1. Around April 2014, the Defendant violated the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud) stated that “The victim E will make an investment in a financial product, such as stocks and futures, and pay a monthly amount of 0.7% (8%) per annum of the investment amount to the victim E as a profit. In the event that the risk does not occur due to the stable operation of the investment fund, and the investment is maintained for more than one year, the total investment principal will be compensated.”

However, in fact, the defendant was planned to receive investment money from the victim to return the investment money from other investors, and it was difficult for the defendant to manage the investment money in light of the situation of the company at the time to generate the investment profit.

As above, the Defendant, by deceiving the victim, received KRW 200,000,000 from the victim as investment money on April 4, 2014 from the victim to the G bank account in the name of the Defendant’s wife, and received KRW 900,000,000 in total five times from that time to August 28, 2015, as shown in the List of Offenses (1).

2. Fraud;

A. The Defendant on August 20, 2010