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A defendant shall be punished by imprisonment for one year.
Reasons
Criminal facts
On December 22, 2005, the Defendant was sentenced to seven years of imprisonment with prison labor for the violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud) in Seoul High Court on September 30, 201, and the parole period expired on October 29, 201.
1. The Defendant, even if borrowing money from the victim C for investment in futures options trading in fact, did not have any intent or ability to guarantee the principal remaining in a short period and to pay interest on the principal.
Around April 9, 2012, the Defendant, at the Defendant’s residence in Sung-nam-si, Sungnam-si, 109 Dong 1601, the Defendant again started option trading at the phone to the victim by telephone. If the Defendant borrowed KRW 10 million to B with funds able to make short-term investments due to the shortage of investment management funds, the Defendant would pay KRW 10 million plus interest of KRW 3 million until May 30, 2012. The Defendant received from the victim a remittance of KRW 10 million from the Defendant’s bank account in the Defendant’s name of the Defendant’s wife E on April 10, 2012.
B. On April 16, 2012, the Defendant: (a) at the place indicated in paragraph (1) around April 16, 2012; (b) by telephone, the Defendant provided that “The Defendant shall lend money to the Defendant as collateral and make a payment to the Defendant; and (c) if he/she fails to pay the money, he/she shall dispose of the shares that he/she has paid; and (d) shall be 100 million won in lieu of the repayment. If he/she is currently secured with the payment, he/she shall make a payment with the principal of KRW 30 million plus interest of KRW 7.5 million until April 30, 2012; and (e) he/she received from the victim KRW 30 million as a loan account around April 16, 2012, he/she received KRW 30 million from the victim.”
C. Around April 19, 2012, the Defendant lent to the victim the same place as indicated in paragraph (1) by telephone at the place and on April 10, 2012.