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Defendant
A shall be punished by imprisonment with prison labor for five months and by imprisonment for two months.
All applications filed by an applicant for compensation shall be dismissed.
Reasons
Punishment of the crime
On October 17, 2013, the Defendants committed a violation of the Act on the Regulation of Conducting Fund-Raising Business without Permission at the Busan High Court, and the Defendant A was sentenced to five years of imprisonment, and the Defendant B was sentenced to two years of imprisonment, and each of the above decisions became final and conclusive on October 25, 2013.
Defendant
A is a person who has worked as the representative director of G Co., Ltd. (hereinafter referred to as G) and has exercised the overall authority over management. Defendant B is a person who has been in charge of claims management, such as purchase of non-performing loans, education of business employees, without being registered as a staff member of G.
The Defendants purchased NPL claim, a non-performing debt of a company undergoing legal management or composition, from a company that has been rapidly growing within a short period of time, for business employees G, and collected them and create profits therefrom. When investing in the above business, the Defendants made payment of the investment principal after one year, and if the investment amount is more than 30,000,000 won, 24% per annum, and if the investment amount is less than 30,000,000 won, 22% per annum. The investors will transfer the company’s credit held by the company with the investment amount of 3 times as collateral, so it would be safe because it would be possible for the company to collect directly a debt even if the company is erroneous. When attracting investors, the Defendants provided education to the investors, stating that “10% of the investment amount shall be paid as allowances.”
However, G, as seen above, was a corporation that took a Dormant Company and started its business with only the initial business fund of KRW 70,000,000, which was prepared by Defendant B, and has been in bad financial standing to the extent that it has not been able to purchase bonds at the intervals of security against investors. The claims purchased due to the lack of possibility of recovery, and as there was no organization or employee to collect debts in G, it purchased non-performing loans.