Defendant shall be punished by a fine of KRW 150,000,000.

When the defendant does not pay the above fine, 200,000 won.

Punishment of the crime

No one shall conduct collective investment business in which two or more investors are engaged in the business of acquiring, disposing of, or managing by other means assets with property value without receiving instructions from investors for management in a daily manner by recommending them to make an investment without obtaining authorization for a financial investment business, and distributing the results thereof to vest in investors.

Nevertheless, the Defendant, without obtaining a financial investment business license on September 12, 2014, entered into an agreement to pay the amount of 4-5% per month when profits accrued from investment in foreign exchange futures by receiving D and investment funds at the office of the third floor of the building in South-gu, Seoul at around port on September 12, 2014, and operated investment funds in a manner of investing in foreign exchange trading by receiving KRW 20 million from D and receiving KRW 20 million in foreign futures exchange E and F from November 10, 2015 from that time to November 10, 2015.

Accordingly, the defendant was engaged in collective investment business without obtaining authorization.

Summary of Evidence

1. Statement by the defendant in court;

1. A protocol concerning the interrogation of the accused by the prosecution;

1. Each prosecutor's statement made to G, H, I, and J;

1. Statement made to K in the police statement;

1. An abstract of investor's telephone;

1. An investment agreement;

1. Current status of deposits, investment returns, and details of confirmation of investment return rates;

1. Details of transactions with a foreign exchange bank, and details of transactions with a single bank;

1. Application of Acts and subordinate statutes to investigation reports (the confirmation of the account number of one bank), investigation reports (the entire process of analysis of return on investment funds), investigation reports (the response to data on refund details), investigation reports (Submission of data on full refund details), investigation reports (the frequency of investment and the adjustment of amount invested), investigation reports (the frequency of investment by each investor and the adjustment of amount invested), each investigation report (related to the statement by the first investor telephone), and each investigation report (the relation to the statement by

1. Relevant Articles of the Act concerning the facts constituting the crime;