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Defendant
A A Fines 4,00,000 won, Defendant B’s fine 4,000,000 won, and Defendant C’s fine 2,00,000 won.
Reasons
Punishment of the crime
1. Where a credit service provider with no registration exceeding the interest rate makes a loan, no interest shall be collected exceeding the legal interest rate under the Interest Limitation Act;
Nevertheless, Defendant A and B conspired with the competent government office on March 4, 2016 and lent KRW 5 million to F on or around March 4, 2016, and paid KRW 4.75 million after deducting KRW 2.5 million from commission fees. Around 150 days, Defendant A and B entered into a loan agreement on a condition of lending KRW 4 million on five occasions during the period of 150 days, and received KRW 6 million under the name of principal and interest as the principal and interest. From that time to April 27, 2017, Defendant A, B, and C received interest exceeding the statutory limit as described in the attached Table Nos. 1 to 394 through 393. Defendant A, B, and C did not register the loan business with the competent government office, and did not receive the loan business from May 8, 2017 to June 26, 2018, exceeding the statutory limit on the payment of interest under the Interest Act as stated in the attached Table No. 394 to 582.
2. Any person who intends to engage in a loan business without registration shall register with the Mayor/Do Governor having jurisdiction over the relevant place of business by each place of business.
Nevertheless, Defendant A and B conspired with the competent authority from March 4, 2016 to April 27, 2018 without registering the loan business as described in paragraph (1), and Defendant A, B, and C engaged in the loan business without registering the loan business with the competent authority as described in paragraph (1). From April 28, 2018 to June 26, 2018, Defendant A, B, and C conspired to engage in the loan business without registering the loan business with the competent authority.
3. No person, other than credit service providers or credit financial institutions, may place an advertisement for loan business;
Nevertheless, the Defendants’ collusion with the competent authority for a loan business without registering the loan business, and the Defendants’ expression “on the day loan” and “one-day loan” is deemed to be unlawful from May 2017 to June 26, 2018.