In the case of each crime of fraud, the defendant is punished by imprisonment for 2 years, and it is against the Act on the Regulation of Similar Receiving Act.

Criminal facts

No one shall receive similar contributions from an unspecified person under an agreement to pay the total amount of contributions or an amount in excess thereof in the future without obtaining authorization or permission from, or making registration or report to, the competent authority.

Nevertheless, the Defendant received money under the pretext of stock investment from those who have joined a high school or a large number of club members, such as high school and a group of club members, and around November 4, 201, the Defendant is specialized in investment in stocks to C.

B. In making an investment to B, the principal of the investment will be guaranteed as well as the high-interest monthly profit.

“False speech” was made.

However, in fact, the Defendant did not invest in the stocks received from the victims, but made investments in futures trading with a high risk of causing losses to the principal of the investment, which is more likely to be seen as losses due to high speculation. From around 2012 to April 2017, the cumulative loss resulted in approximately KRW 68,240,000,000 in total since the cumulative loss occurred every year from the date of the commencement of futures trading. Ultimately, around August 2016, the Defendant continued to receive an investment without notifying the victims of the fact, even though he/she received a part of the amount of damage with the forest land under his/her father’s name as collateral because he/she did not meet his/her own loss. Of the investment funds received from the victims, the Defendant did not receive an investment share return rate of KRW 55,837,00,000 from the victims and agreed to receive the principal of the investment money under the name of the victims, such as return of the investment funds and return of profits to some victims.

As such, the defendant deceivings the victim C to this effect.