A defendant shall be punished by imprisonment for six months.

However, the execution of the above sentence shall be suspended for a period of two years from the date this judgment becomes final and conclusive.

Punishment of the crime

On October 25, 2018, the Defendant was sentenced to 8 months of imprisonment and 2 years of suspended execution for a violation of the Special Act on the Prevention of Insurance Fraud in Seoul Southern District Court on October 25, 2018, and the judgment became final and conclusive on November 2, 2018.

1. In April 2017, the Defendant would pay 3% profits each month through overseas stocks, virtual currency extraction, domestic and overseas stocks, foreign exchange transactions, etc. to the victim D in the Defendant’s office located in Gangnam-gu Seoul building C, Seoul.

The phrase “the Defendant,” stating to the effect that it would be able to stably increase the profit by lending money to the Defendant.

However, at that time, Defendant 1 was not an expert in domestic and overseas stocks, goods, and virtual currency investments, etc. as a result of bad credit failure due to business failure. Moreover, it was difficult for Defendant 1 to continuously pay the above profits to the victim due to the high risk of investment and high speculative nature. If the loss of investment occurred, Defendant 2 did not have the intent or ability to pay the borrowed money to the victim.

On May 4, 2017, the Defendant: (a) by deceiving the victim as above; (b) transferred the sum of KRW 10 million to the F Bank Account (G) and H Bank Account (I) in the name of the Defendant on May 4, 2017; and (c) transferred KRW 10 million to the F Bank Account on May 23, 2017.

2. On July 25, 2017, the Defendant calls from the victim on July 25, 2017 to use “20% interest” only for one month.

The phrase “one million won is changed......”

However, in fact, the Defendant borrowed the above money for the purpose of investing in the goods, such as Paragraph 1, but was investing in the goods with high risk speculation as above, so if there is no personal property of the Defendant, and thus, the Defendant would pay the above borrowed money to the victim.