The defendant is due to the interest rate exceeding the limit interest rate stated in attached Form 1 through 36 on the list of crimes.

Punishment of the crime

On June 14, 2013, the Defendant was sentenced to imprisonment with prison labor for eight months for a violation of the Punishment of Violences, etc. Act (a group, deadly weapon, etc.) at the Daegu District Court on the same day, and was sentenced to two years of suspended execution on June 22, 2013, and is currently under suspended execution.

Co-offender D is a single owner of loan funds. The Defendant is a person who actually runs credit business in Daegu City with the funds of the above D, and co-offender E is a person who exercises overall control over the affairs such as the conclusion and collection of loan contracts, management of employees, etc. at the Defendant’s credit business office. An accomplice F, G is a person who takes charge of the affairs such as the conclusion, collection, and distribution of loan contracts at the above office, and an accomplice H is a person who takes charge of the transfer of funds to the accounting staff of the above office.

Any person who intends to run a credit business shall register his/her business with the administrative agency having jurisdiction over the relevant place of business, and no one shall collect the interest that exceeds the maximum interest rate (30% per annum) determined by the Presidential Decree from any unregistered credit service provider.

Nevertheless, the Defendant, in collusion with D, E, F, G, and H on June 4, 2012, loaned KRW 100,000 to J, a loan of KRW 820,000 as a fee, deducted KRW 920,000,000 and actually paid KRW 200,000 won each day, and agreed to receive KRW 1.3 million as a total for 65 days each day (408.7% per year) after paying the principal and interest pursuant to the above agreement (408.7% per annum). From that time to September 25, 2014, the Defendant loaned KRW 1.267 million each time through the above method as described in the attached list of crimes, and received the principal and interest pursuant to such agreement.

Accordingly, the Defendant received interest exceeding the limited interest rate while running credit business in collusion with D, E, F, G, and H without registering it with the competent authority. From December 8, 2012 to September 25, 2014.