A defendant shall be punished by imprisonment for nine years.

The defendant 207,392,00 won, C 426,215,352 won, and D to the applicant for compensation.

Criminal facts

1. Violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud);

A. The Defendant, around October 2016, committed the crime against the victim C (2018 Gohap398), stating that “A mother would purchase a building in Seoul, with his/her mother’s investment in money, would make profits from this mother’s investment. If investing KRW 10 million, the Defendant would pay interest of KRW 1,90,000 per month.”

However, in fact, even if the Defendant received money from the victim, there was no plan to make an investment in the subsidiaries located in Seoul, and the Defendant merely provided investments from other investors with a view to repaying the principal and interest by means of tele-phones (Ponzicheches) and, as a result, planned to collect investors with high-profit profits without actual capital, and later receive the principal from the investors and pay the profits from the investors later, there was no intent or ability to repay the said amount as agreed upon by the victim, even if the Defendant received money from the victims as investment funds.

On October 27, 2016, the Defendant, by deceiving the victim as above, received KRW 20,00,000 from the victim’s husband to the Z bank account under the Y’s husband’s husband on October 27, 2016, and received KRW 1,201,010,216 in total over 127 occasions from around that time to July 18, 2018, as shown in the list of crimes (1).

B. On January 13, 2015, the Defendant: (a) called, “On January 13, 2015, the Defendant, by telephone, at the Defendant’s residence of the Defendant AAAAA Apartment apartment AB of the Geumcheon-gu Busan, the Defendant provided that “The Defendant shall pay a high interest on the Defendant’s lending of money to the Defendant’s business with a large building in Seoul and with a large number of buildings; (b) only one month, if the mother borrowed KRW 2 million; and (c) shall be paid by adding the principal and three parts to the interest.”

(b).