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

except that the execution of the above punishment shall be suspended for two years from the date this judgment becomes final and conclusive.

Punishment of the crime

On October 17, 2013, the defendant was sentenced to three years of suspended execution in Seoul High Court for a violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud), which became final and conclusive on October 25, 2013.

1. The Defendant: (a) from January 201 to October 2011, the HK Savings Bank; (b) from October 201 to June 2012, 201, the Defendant used as a lending solicitor affiliated with the Seoul Savings Bank; (c) from May 2011, the Defendant borrowed money from many investors and made it possible to temporarily lend the said borrowed money from the customers who are difficult to borrow from the financial institution due to the existing credit obligations, thereby allowing them to extinguish the said existing debt; and (d) from the customers, the Defendant arranged for the lending of the financial institution by mediating the lending of the said loan and the fee for the said loan by the method of obtaining a certain ratio of the loan from the customers; and (e) prevented the payment of the principal and interest for the existing investors by borrowing money from the existing investors and the new investors from using the money for the purpose of financing and preventing the payment of the said money for the principal and interest.

2. On March 5, 2012, the Defendant against the victim E made a false statement to the victim at the Seoul Savings Bank Office located in Gangnam-gu Seoul, Seoul, Seoul, stating that “Around March 5, 2012, the Defendant borrowed money and used 3% interest on the borrowed money for the “credit loan” to the other customers (credit loan) and the principal will be repaid immediately by paying it four times a month.”

However, even if the victim borrows money from the victim, it did not use it as a fund for a new “buy loan,” and was planned to use it for an individual purpose, such as repayment of an existing investor’s debt or living expenses, and at the same time, the said “buy loan” was used.