beta
Text
A defendant shall be punished by imprisonment for three years.
Reasons
Punishment of the crime
[2017 Highest 3785]
1. The Defendant, who was an insurance designer belonging to the ING Life Insurance Co., Ltd., was seeking to obtain profits by introducing investment and management products to the victim D and D father E and making investments in cash from the victims from around 2008. On January 2014, the Defendant received KRW 500 million from the victims and invested in a multi-level financial company of F (G corporation’s entire name). The Defendant obtained trust by delivering the victims’ investments equivalent to 1.7% per month to the victims.
Around May 2015, the Defendant, using such trust relationship, trading rights to purchase or sell foreign currencies at a certain rate of exchange determined in advance (the time of exercise of rights) or to put in order to make transactions. The Defendant: (a) invested KRW 187,50,000; (b) but (c) the operator of the H, in turn, did not pay the principal of the investment and profit; and (d) caused damage to the investment amount by failing to pay the principal of the investment and profit; (b) thereby, he would have been able to bring in foreign exchange transactions (the time of exercise of rights) by re-investment of the G invested amount that comes due to the date of payment to the victims in order to meet the damages; (b) would have been able to buy or sell foreign currencies at a certain rate of exchange determined in advance (the time of exercise of rights; and (c) would have been able to obtain high profits from trading and options depending on the exchange rate fluctuations in the target currency until the time of exercise of rights.
2. On January 2016, the Defendant is the principal after one year, along with the interest accrued if he/she re-investments the amount of money to be returned after investment in theG, in an infinite coffee shop near the victim D office located in Yeongdeungpo-gu Seoul Metropolitan Government, and the victim D re-investment the amount to be returned.