A defendant shall be punished by imprisonment for five years.

One (No. 7), one (No. 8), one (No. 8), and a seal (a corporation, an individual) that has been seized.

Punishment of the crime

On February 2, 2015, the Defendant operated a stock company C (hereinafter “Defendant Company”) for business purposes of asset investment business, etc. in Gangnam-gu Seoul (hereinafter “Seoul”) and made a false statement to the victim D, who is an employee, stating that “The Defendant may make profits after purchasing bonds at a financial institution at a discount of bonds, or make an investment in the real estate auction. When investing in the payment, the Defendant made a false statement to the effect that “The Defendant will pay the principal in full at the maturity of the payment.”

However, in fact, the Defendant could not secure 2% or more per month only with the Defendant’s business, such as a bond discount or real estate auction, and thus, was bound to use the investment money for the Defendant’s personal purpose. Moreover, as long as the investment money was intended to be voluntarily used for the Defendant’s personal purpose, there is a lack of profits to be paid to the investors, and as such, there is no intention or ability to pay the investors the agreed interest rate and the principal.

As such, from February 27, 2015 to December 4, 2018, the Defendant: (a) by deceiving four victims as described in the attached list of crimes, such as deceiving them of victims D; (b) from February 27, 2018 to December 4, 2018, the Defendant engaged in an act of fund-raising by receiving total of KRW 1,225,00,000 (victim D985,00,000, Victim E 110,000,000, victim F30,000,000, and Victim G100,000,000,000, and KRW 100,000,000,000,000, without obtaining authorization or permission under statutes or filing for registration or report under statutes; and (c) by receiving an investment amount in the future from many and unspecified persons.

Summary of Evidence

1. Partial statement of the defendant;

1. Witnesses D, H, E, F, and G.