A defendant shall be punished by imprisonment for not less than eight months.

Punishment of the crime

On January 8, 2014, the Defendant is the representative director of C, and on May 12, 2014, the Seoul Central District Court sentenced one year of imprisonment for fraud, which became final and conclusive on May 2, 2014.

On January 4, 2011, the Defendant stated that “Around January 4, 2011, the victim E (Nam, 55 years of age) shall have a lot of interest in importing fishery products, such as Eastern, Span, Span, and Spanish, in China. However, if a business fund is insufficient, the Defendant shall use it as the revenue fund for fishery products, and the monthly loan shall be paid 10-20% as the dividend, and the principal shall also be guaranteed.”

However, even if the Defendant received investments from the victim, he/she did not intend to use the former investor to pay the principal and interest of the investment in F and G, etc. The Defendant did not intend to import and sell fishery products. At that time, the (State) debt of F and G was equivalent to KRW 100 million. The net income for the year 2010 was merely equivalent to KRW -846,00, and did not normally import fishery products and did not raise profits. The Defendant did not have property, and there was no demand for the return of the personal debt of F and H from around 2008, the Defendant was demanding the return of KRW 195,000,000 as the principal and interest of the investment. From May 2008, the Defendant did not receive KRW 300,000 under the pretext of the revenue of fishery products from J as the revenue of fishery products, even if he/she did not receive the principal and interest from the victim as the profit of the investment.

Nevertheless, the Defendant, as seen above, received KRW 10 million in cash in tin, namely, KRW 30 million on January 11, 201, KRW 10 million on January 13, 2011, KRW 30 million on January 26, 201, KRW 20 million on January 26, 201, and KRW 20 million on March 30, 201, KRW 700 million on April 11, 201, shall be a corporate bank account in the name of C (C: Account Number: K).