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Defendant
A Imprisonment for three years, for two years, for Defendant B, for one year and six months, for Defendant C, and for Defendant D.
Reasons
Punishment of the crime
Defendant A, “2017 Highest 5149,” is the chairperson of the Gangnam-gu Seoul Metropolitan LM established for the purpose of mining development business, etc. in Seoul, Gangnam-gu, who is in charge of overall management of business and investment funds, Defendant B, vice-chairperson of the above M, who is in charge of overall business explanation, etc., Defendant C, as the head of the above MN center, who is in charge of the business of soliciting investors, and Defendant D, who was in charge of the business of soliciting investors at the above MN center.
1. Defendant A and B’s joint crime (Fraud) around August 2016, at the office of 401 M of Seoul, Gangnam-gu L Building L, Seoul and the office of the fourth floor M N Center of Q building located near the port of entry in Gwanak-gu Seoul Special Metropolitan City, through C, D, etc., to the victim R, “M acquires the right to extract a gold mine from Africa, and sells gold produced in the Republic of Korea from Africa to the Republic of Korea.”
If an investment of KRW 13 million per unit is made in KRW 6.5 million per unit, the face value shall be paid 50,000 (500,000 won) for the 100 foot coophones and the paid coophones will increase by 20 times the investment amount within three months.
If an application for the sales of coophones is filed, the said false statement was made to the effect that the sale of coophones is guaranteed to the new investors, and that it is intended to recover the amount of coods from the investment sources until December 2016.
However, in fact, although the Defendants entered into a gold mine extraction contract in Africa, there was no objective data about whether to store gold in the mine, and there was a large amount of expenses for the implementation of projects, such as mining expenses, customs clearance expenses, and refining expenses. The degree of net profits accrued from the actual extraction of gold is unclear, and the profits paid to investors were paid to senior investors by the method of preventing the return of the above profits to senior investors as a priority investment, and the investments were made.