A defendant shall be punished by imprisonment for not more than ten months.

except that the execution of the above punishment shall be suspended for two years from the date this judgment becomes final and conclusive.

Punishment of the crime

Defendant

A On November 9, 2018, the Seoul Southern District Court sentenced four years to imprisonment for the violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud) in Seoul Southern District Court, and the judgment was finalized on November 16, 2018.

[P2P lending-related corporation and defendant's status] B Co., Ltd. (hereinafter "stock company") is a corporation established on October 25, 2017 for the purpose of providing online platform services for "P2P lending" in the form of linking large number of investors and borrowers through online, and C is a corporation established on November 22, 2017 for the purpose of credit business related to P2P lending.

B disclosed information necessary to determine the credit rating, purpose, and collateral ability of a specific borrower on the Internet homepage as an investment product, and individual investors who are members of the above company will report information added to the investment product and determine the amount of investment, and thereafter, P2P connected Credit Service C borrowed funds received from investors who decided to invest in a specific P2P product after being entrusted with the management of the above investment fund, etc. from B to the lender, and then allocated it to investors if the borrower redeems the principal and interest of the loan.

Non-Indicted D is the representative director in the name of B from October 25, 2017 to May 17, 2018, and E is the general director of the above company, who actually operates the company, and F served as the representative director in the name of the above company, the general director in the name of C, and the representative director in the name of C, and the defendant A served as the false borrower together with Non-Indicted H, I, and J.

[Public invitation of the Defendant] Defendant A, along with D, H, I, J, E, and F, has been subscribed to P2P lending platform service provided by B as a member. The Defendant offered false security, such as import vehicles, and offered false investment funds, and did not lend the investment funds to the borrower specified in the pertinent P2P lending product.