A defendant shall be punished by imprisonment for four months.

except that the execution of the above punishment shall be suspended for two years from the date this judgment becomes final and conclusive.

Punishment of the crime

On July 12, 2019, the Defendant was sentenced to a suspended sentence of three years on July 2019 at the Seoul Central District Court, with a prison term of one year and six months, and the said judgment became final and conclusive on July 20, 2019.

1. On June 29, 2018, the Defendant against the victim B made a false statement to the effect that “I am aware of the subject investor who would guarantee the principal and at least 30% of the principal and at every 10 days if I am aware of the fact that I are engaged in the same capital dumping business” with C in a non-place where the victim B made a solicitation for the said investment to the victim in the Gangnam-gu Seoul Metropolitan Government D Hotel E head office for the same purpose.

However, from around 2016, the Defendant was unable to repay obligations to other creditors without any particular property, and thus, was able to receive money from the victim and use it for repayment of the existing obligation, and there was no intention or ability to pay the principal and the profits to the victim.

Nevertheless, the Defendant, by deceiving the victim who received C’s horses as above, received KRW 20 million from the victim to the savings bank account in the name of C around June 29, 2018, and received KRW 5 million from the same account on July 17, 2018, and acquired 25 million in total.

2. The Defendant made a false statement to C as stated in the above 1. paragraph, thereby soliciting the Defendant to make an investment in G located in the territory of the Seocho Station No. 5 of early 2018, that “A person engaged in the same capital flight is taking an intermediate role.” When investing money, the Defendant made an investment that “A person engaged in the same capital flight is taking an intermediary role.” The Defendant shall guarantee the principal and will take 30% of the principal every ten days.”

However, at the time, the Defendant had no intention or ability to pay the principal and interest to the victim because he/she thought that he/she would use it for the repayment of obligations to the existing creditors by referring to the 'refluence' with money received from the victim as stated in the above 1

Nevertheless, there is a need to do so.