A defendant shall be punished by imprisonment for not less than eight months.

Punishment of the crime

Around 2003, the Defendant began to take over and operate a singing book with the mutual name “E” around 2013, among those who are bad credit holders and have no particular property or income. As a result, the Defendant was unable to fully repay not only the monthly loan but also the interest with loan borrowed from those who have borrowed the amount of KRW 40 million out of the singing receipt fund, the Defendant was in a situation where it was difficult for the victims to fully repay the principal and interest of the borrowed money from the victims because the Defendant was able to use the borrowed money in the repayment of principal and interest of other bonds with a short term of return when borrowing the money from the victims. Even though the Defendant did not have the intent or ability to generate a large number of profits by setting the number of days to the surrounding persons, the Defendant acquired the money under the pretext of borrowing money by using the victim F and Do with the intent of guaranteeing that the Defendant would have sufficiently pretend the ability to repay the principal and interest of the loan, including high interest, or the number of days of borrowing money with the highest profits.

On February 12, 2014, the Defendant made a false statement to F, “I would pay interest on the 4th of each month if I would lend money that is required for operating expenses.”

However, in fact, it was difficult to properly pay the principal and interest of the loan, including interest at a high rate.

As such, the Defendant, by deceiving F as such, received KRW 1.5 million from F for the same day as the loan money, and then deceiving the victims as if he had sufficiently pretended that the Defendant had the ability to repay the principal and interest of the loan between around that time to November 28, 2014, or as if he would guarantee the high profits by putting the number of days with borrowed money, and then deceiving them to do so, as shown in the Schedule of Crimes (1) in the annexed Table of Crimes (2) from the victim G, the sum of KRW 79,560,000 in total over 59 times as shown in the annexed Table of Crimes (1).