A defendant shall be punished by imprisonment for five years.

Punishment of the crime

"2015 Gohap 228"

1. The Defendant is a person who violated the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud) and served as an insurance designer at the Korea Life Insurance Co., Ltd. from around 2006 to around August 2015.

On May 2013, the Defendant recommended the victim C to purchase insurance products that are required to pay insurance premiums of KRW 10 million per month at a place where it is not known to the Haman on May 2013, and would pay KRW 10,000,000,000 to the victim C by paying insurance premiums of KRW 1,000 per month.

In addition, the principal said that it is unconditional.

However, in fact, the Defendant did not intend to engage in the above stock spile transactions, and did not make profits therefrom but made such false statements on the wooden cargo to induce the purchase of insurance products.

On May 28, 2013, the Defendant received KRW 10 million from the victim C as a means of investment in around May 28, 2013.

The Defendant, including that, from March 4, 2013 to August 13, 2015, obtained the sum of KRW 5,095,680,00 from the victim C, the sum of KRW 5,542,310,00,00, the sum of KRW 579,06,530 from the victim E, the sum of KRW 635,00,000, the sum of KRW 333,20,000 from the victim G, and the sum of KRW 1,134,308,80 from the victim H, the sum of KRW 586,107,00,00 from the victim J, and the sum of KRW 685,00,00 from the victim J.

2. On April 2015, the Defendant: (a) recommended the Victim K to purchase and sell two insurance products that are required to pay KRW 2 million per month and KRW 2.5 million per month; and (b) “The Defendant may impose KRW 80 million per annum and KRW 30 million per annum on the principal and KRW 80 million per month on the part of the Plaintiff’s K, by selling and buying shares, and selling bonds.”

However, in fact, the defendant did not intend to buy and sell shares, and he did so through a single sale.