A defendant shall be punished by imprisonment for two years.

Punishment of the crime

The Defendant was sentenced to five years of imprisonment with labor for a violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Embezzlement) at Seoul High Court on August 29, 2018, and the said judgment became final and conclusive on November 29, 2018.

1. On April 22, 2014, the Defendant: (a) at the office of a stock company in the fourth floor of Yongsan-gu Seoul Metropolitan Government, the Defendant had been operated by the Defendant on the fourth floor of Yongsan-gu, Seoul; (b) on the part invested by others, including D, in fact, there was no intent or ability to return high profits even if they received a large amount of investment funds from others, such as D, and most of the investments newly entered were considered to have returned the investment funds to the existing investors, such as D, or to have been used for the Defendant’s personal purpose; and (c) there was no intent or ability to promptly return the said funds upon the request of the investor due to the aggravation of the financial situation; and (d) there was no intention or ability to promptly return the said funds to the victim E, the Defendant would be able to deposit and withdraw at any time as a bank; and (c) on the same day, on the same day, he was remitted from the victim as an investment money.

Since then, the Defendant continuously increased more than three times the amount of investment, and, if re-investment is made without receiving interest, it is more favorable to not withdraw interest because of the increase in welfare, and it is more favorable to not withdraw interest, and by making the victim aware of the victim, etc., the Defendant, as shown in the attached Table 1, obtained a total sum of KRW 1,230,000,000 from April 22, 2014 to December 14, 2016, by remitting it to the F Bank G account in the name of the Defendant, and acquired the money equivalent to KRW 148,00,000,000 among them.

2. On May 31, 2016, the Defendant suffered a large amount of loss in relation to the part invested by others, such as former D, in a place where it is not known, and in fact, a large amount of loss.