A defendant shall be punished by imprisonment for three years.

Punishment of the crime

On December 20, 2012, the Defendant was sentenced to imprisonment of 10 months with prison labor and 2 years of suspended execution in Seoul Central District Court for fraud, and the judgment became final and conclusive on December 28, 2012.

Criminal facts

The Defendant is “ING life insurance company” from November 2002 to February 2, 2012.

In order to acquire money through deception by deceiving the victims that they work as insurance solicitors and encourage victims to buy insurance, and guarantee high-profit profits.

Even if the defendant received an investment from the victims, he did not have the intention or ability to guarantee the victims' high-income interest, and did not have the intent or ability to repay the investment principal when the victims request the repayment.

1. On April 8, 201, the criminal defendant against the victim C recommended the victim C (e.g., 37 years of age) to subscribe to high-amount insurance products in the E coffee shop located in Guro-gu Seoul Metropolitan Government on April 8, 2011, and acquired money by receiving KRW 10,000,000 from the victim to the bank account in the name of the defendant under the name of the defendant for the purpose of making an investment therein, with the purport that “if he/she has invested money, he/she shall pay the proceeds at a high-rate rate (2-3% of a monthly yield) and return the principal at any time if he/she is requested on the agreed date or at any time.” In addition, the defendant received KRW 10,00,000 from the victim to the bank account in the name of the defendant under the name of the defendant for the purpose of making an investment therein, as shown in attached Form 1(1) from December 9, 2011.

2. On February 4, 2008, the Defendant against the victim F was recommended by the Seocho-gu Seoul Metropolitan Office to purchase a high-amount insurance contract forING life insurance at the victim F (n, 36 years of age) on February 4, 2008, and the Defendant was saying, “When investing money, the Defendant would pay the profits therefrom at a high rate (2-3% per month rate) and would return the principal immediately upon request on the agreed date or at any time.” Accordingly, the Defendant’s money invested from the victim on that day.