A defendant shall be punished by imprisonment for four months.

Punishment of the crime

The defendant is the representative of C Association.

around May 22, 2013, the Defendant: (a) stated that “The victim, who became aware of as a result of the introduction by the branch of the “F” office, “F,” the victim in Gangnam-gu Seoul, for the release of the victim E on bail for the operation of the victim; (b) invested funds in the trading-related business, such as Gwangju Smart Holdings, where the Association is in progress, a corporation will be newly incorporated and operated jointly; (c) monthly profits of KRW 300 million; (d) 50% after the three months, will return the principal of the investment, along with the profits of KRW 50%; and (e) received a remittance from the victim who believed the said horses as is, around May 24, 2013, to the account in the name of the said Association as designated by the Defendant.

However, the fact is that at the time, the defendant professed to the "small marriage style" to the purport that he is "small-scale marriage type" and operated the above association with one female employee, but the size of the association was very small and financial foundation was insufficient, and it was difficult to operate the same as a non-profit organization. In order to do so, the company was operated separately, but it did not pay 15 million won of debt to the customer and 2 million won of office rent to the customer without raising any particular income. On the other hand, the company did not have any different operating funds or retained property while making it difficult to live in a monthly life, and did not prepare all measures to repay the investment funds because it is not good credit status. Thus, even if funds are received from the victim under the above name, the company did not have any intention or ability to implement the business after establishing a new corporation under the initial agreement to use it as operating expenses, such as repayment of smuggling debt to the customer, payment of rent for employees, etc.

Accordingly, the defendant is trying to engage in crowdfunding-related business.