A defendant shall be punished by imprisonment for six years.

Punishment of the crime

"2019 Highest 971"

1. The Defendant, as the representative director of the C Co., Ltd. and D Co., Ltd. in the Yeongdeungpo-gu Seoul Metropolitan Government B 7th floor, controlled the above Co., Ltd. with the business item indemnity, investor explanation, etc., and the network E, as the president of the above Co., Ltd. (in the case of a registered Co., Ltd., as an auditor and D Co., Ltd., as an internal director), jointly operated the above Co., Ltd. with the Defendant, while managing the said Co., Ltd. and managing the funds. The F Co., Ltd., as the chief manager of the above Co., Ltd., was in charge of the investment solicitation business

When F and G raise investors among the network E, F, and G, the Defendant explained the business of the above companies, such as investment in H shares and investment in the I hotel development project in a mix, and conspired to receive and obtain investments from an unspecified number of investors by sharing the role of the network E managing the investment funds received from investors.

Between October 12, 2012 and August 23, 2013, the Defendant and Sil E, F, and G made a false statement to the effect that “When investing in our company, the principal may be paid from 3 months to 6 months.” H shares may be invested, and the amount of profits shall be paid 7 to 7-8% per month in return for profits by investing in the e-mail hotel development project in the e-mail market. In addition, the Defendant and Sil E, F, and G shall make a false statement to the effect that the said company’s office will pay the profits of 7-8% per month in return for profits by taking over and selling the K (L), a KOSDAQ-listed company undergoing funds at present.”

However, in fact, the above companies were operated with the investment funds received from the victims, and they explained to the victims that they will make an investment.