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A defendant shall be punished by imprisonment for not less than two years and six months.
However, the execution of the above sentence shall be suspended for a period of four years from the date this judgment became final and conclusive.
Reasons
Punishment of the crime
1. No person who violates the Act on the Financial Investment Services and Capital Markets due to the act of controlling market prices shall make any sale and purchase transaction of securities listed on KOSDAQ with the intention of creating a misleading appearance of active trading or causing any other person to make a false judgment with regard to such transaction, or make such transaction in collusion with other persons alone or with other persons for the purpose of inducing the sale and purchase transaction of securities at the KOSDAQ market, or make such a misleading appearance of active trading, or cause any change in market prices;
Nevertheless, the Defendant, on April 2012, recruited 25 securities borrowed accounts and funds to be used in the operation of the market price, including the accounts in the name of Geumcheon Branch D (E), from April 16, 2012 to July 11, 2012, issued the market price of the 25 securities borrowed accounts and funds directly or after the issuance of the market price; from August 16, 2012 to September 18, 2012 to September 18, 2012 to October 17, 2012 to January 30, 2013 to the market price as follows.
A. A. On April 19, 2012, the Defendant: (a) submitted an order to purchase seven shares from an account (J) in the name of the branch office opening of modern securities at around 08:49:31, which was prior to the date of commencement on April 19, 2012; and (b) submitted an order to sell seven shares from an account (K) in the name of four branch offices of the National Bank of Korea (K) at around 09:01:13 and entered into a trade order from April 16, 2012 to January 30, 2013 (763,835 shares); and (c) submitted an order to trade at least 795,492 shares by submitting an order to trade at least 58 times (31,657 shares).
B. On July 6, 2012, the Defendant: (a) submitted an order for high-priced purchase of KRW 10 to F (L) of NH investment securities B in the name of the branch office F on July 6, 2012; and (b) concluded an order for 100 shares with a higher price than KRW 7,110, thereby raising the share price from April 16, 2012 to January 30, 2013.