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Defendant
A shall be punished by imprisonment for eight months, by a fine of 6,00,000 won.
Defendant
B The above fine.
Reasons
Punishment of the crime
A person who intends to engage in loan business shall register with the competent authority, and where a unregistered credit service provider grants a loan, he/she shall not receive interest exceeding 30% per annum.
Nevertheless, without registering the loan business to the competent authorities, the Defendants directly run the loan business by Defendant A, and Defendant B conspired to run the unregistered loan business by lending funds to Defendant A to use for the loan business.
Accordingly, Defendant B received interest of 4% per annum (48% per annum) from May 10, 2013 to August 20, 2013, and provided Defendant A with KRW 120,500,000 to be used for loan business. Defendant A received interest of KRW 8% per annum (96% per annum) from the Defendant’s house located in Yongsan-gu Seoul Metropolitan Government apartment house 1003 around May 10, 2013, and borrowed KRW 1388,40,000 through 38% per annum as shown in the attached Table of Crimes from around that time to January 24, 2014, Defendant A received interest of KRW 138,500 through 30% per annum.
As a result, the Defendants conspired (Defendant B, from No. 1 to No. 65 in the list of crimes) and did not register with the competent authorities, and received interest exceeding the limited interest rate.
Summary of Evidence
1. Defendants’ respective legal statements
1. A protocol concerning the interrogation of the accused by the prosecution;
1. Two copies of loan-related documents, a statement of loan-related details, a copy of a pocket book, and I account transactions;
1. Requests for cooperation with investigation (request for inquiry about the registration of a lending company) and replies;
1. Application of Acts and subordinate statutes to report on investigation (verification as to whether a loan business is registered);
1. Article 19(1)1 and Article 3(1) of the Act on the Registration of Loan Business and the Protection of Financial Users related to criminal facts, Article 30 of the Criminal Act (the point of operating a loan business without registration) and Article 19(2)3 of the Act on the Registration of Loan Business and Protection of Financial Users.