A defendant shall be punished by imprisonment for two years.

Punishment of the crime

[criminal record] On May 29, 2009, the Defendant was sentenced to imprisonment with prison labor and three years and six months for a violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud) at the Dong Branch District Court of Seoul, and completed the execution of the sentence on July 6, 2012.

[2] On December 16, 2014, the Defendant: (a) around December 16, 2014, at the victim D, E’s office in the fourth floor of the Gangnam-gu Seoul Metropolitan Government C building; and (b) “G” to the victims, as an organization managing Chinese political funds and corporate investment funds, intends to bring the funds into Korea and invest them in the entertainment business or enterprise.

G is entitled to receive a business license if the deposit is paid.

KRW 300,000,000 of deposit money to be deposited in G is already prepared.

The loan of the remaining KRW 200 million will be made to the parties with the right to operate all businesses in Korea by G.

In addition, since deposit returns 90% after two weeks, it is expected to pay the loan up to January 15, 2015, which is not more than one month.

Until then, a false statement was made to the effect that H would transfer the right to KRW 150 million invested by H in I.

However, even if the Defendant borrowed KRW 200 million from the victims, the Defendant did not have to pay the above deposit KRW 510 million, and was thought to use it for personal purposes, such as living expenses, etc. by receiving money from the victims, and therefore, there was no intention or ability to grant G’s business rights to the victims. There was no fact that H invested KRW 150 million in I. The Defendant did not have any special property or income, and even if he borrowed money from the victims, there was no intention or ability to pay it.

As such, the Defendant, by deceiving the victims as such, received KRW 100 million from the victims to the account under the name of the J Co., Ltd. operated by the Defendant on the same day.

The defendant of "2017 Highest 5700" operates L, a corporation that develops mobile app in Mapo-gu Seoul Metropolitan Government K.