A defendant shall be punished by imprisonment for six years.

Punishment of the crime

In 2003, the Defendant was forced to lend money from another third party in order to repay or delay repayment to the obligees because the amount of money which the Defendant was unable to repay from the obligees exceeds KRW 100 million.

Accordingly, the Defendant borrowed KRW 10 million from D on December 2003, and repaid part of the interest, with the care of paying the interest, and thereafter borrowed money over 138 times in total from December 2008. The Defendant borrowed money from D until December 2008. The amount of the unpaid payment exceeded KRW 130 million.

1. The Defendant violated the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud) against the victim E made a false statement to the effect that, by approaching the victim E, the Defendant would borrow money from the victim and pay the money, and that, on August 27, 2010, the Defendant would pay the said victim interest at a high rate if he lends money to the said victim.

However, in fact, the Defendant was liable to pay D as above, and the Defendant was liable to pay KRW 330 million from F around August 2010, and even if the Defendant borrowed money from the victim E, it was not a situation where the Defendant could lend money to another person and pay high interest to the said victim, but rather, the Defendant had no intention or ability to pay the said money, since it should be used as repayment or living expenses to the existing other creditors.

As above, the Defendant, by deceiving the victim E, received 10 million won from the Defendant’s Dong G bank account in the name of Dong G to the Defendant’s borrowed money from the said victim, and received 663,150,000 won in total over 68 times from around that time to June 1, 2012, as shown in the attached crime inundation (1).