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A defendant shall be punished by imprisonment for three years.
However, the execution of the above punishment shall be suspended for five years from the date of the final judgment.
Reasons
Punishment of the crime
1. No person who violates the Act on the Regulation of Conducting Fund-Raising Business without obtaining authorization or permission, making registration or report, etc. under Acts and subordinate statutes, shall make an agreement to pay the total amount of investment or an amount in excess thereof to many and unspecified persons without obtaining any authorization or permission, or receive any contribution;
Nevertheless, around December 2014, the Defendant issued a false statement to the victim D, which read as follows: “The Defendant would provide the borrower with a high-amount dividend equivalent to 10% per month when making an investment in the credit business, and the principal would be returned at any time when she wishes to do so,” and “I will receive notarial expenses paid by a certified judicial scrivener, and 100,000 won will be offered from the borrower’s monthly dividends paid to him/her.” From December 31, 2014 to April 3, 2018, the Defendant received 278,000,000 won from the victim D and received 3,154,975,90 won under the name of the victim from December 31, 2014 to April 28, 2018, such as “A” in the attached list of crimes.
As a result, the Defendant engaged in an act of fund-raising without obtaining authorization or permission under statutes or filing registration or report.
2. The Defendant violated the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud) did not make a false statement to the victim E and F, and received an investment amount, but in fact, the Defendant did not engage in credit business, and raised new investors, and used the amount received from them to pay the profits to the existing investors. The Defendant did not have any intent or ability to pay the profits by credit business even if he did not receive the funds from the victims because it was planned to use them as its own real estate purchase price, import rent purchase price, etc.
Ultimately, the Defendant is as above.