Defendant

A and D shall be punished by imprisonment for 10 months, by imprisonment for 1 year, and by a fine of 2 million won, respectively.

Punishment of the crime

"2017 Highest 2621"

1. Defendant A

(a) Any person who violates the Act on the Registration of Loan Business, etc. and the Protection of Financial Users shall register his/her loan business with the competent Mayor/Do Governor;

Nevertheless, on August 1, 2014, the Defendant sent a text message expressing “small-sum loans” to many unspecified persons without registering a loan business, and then lent money to the lender by allowing the borrower to pay the credit card payment in the following month on behalf of the lender, after receiving personal information, such as his/her name, credit card number, account number, etc. from a person who uses the mobile phone number of H “H,” which called “H,” the Internet shopping site, from the Internet shopping site, on behalf of the said lender.

In addition, from July 2, 2014 to December 13, 2016, the Defendant engaged in a non-registered loan business by settling KRW 488,209,395 in total and lending KRW 70% of the settlement amount to the loan requester by settling the loan requester's credit card or settling the small amount of money with the borrower's cell phone in lieu of the loan requester, without registering with the competent authority at the location of the Defendant's residence located in Gangnam-gu Seoul Metropolitan Government I located in the area of the Defendant's residence.

(b) Where a credit service provider that has not registered a violation of the Act on the Registration of Loan Business, etc. and the Protection of Financial Users (Violation of the Interest Rate) lends a loan, the maximum interest rate on cash lending and lending contract shall not exceed 25 percent per annum;

Nevertheless, the defendant is a person who requests a loan in the same manner as the above paragraph (a).