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

However, the execution of the above punishment shall be suspended for a period of two years from the date this judgment becomes final and conclusive.

Punishment of the crime

No one shall engage in financial investment business without obtaining authorization for a financial investment business, and shall disseminate a rumor, use a deceptive scheme, assault, or threaten to engage in financial investment business with an intention to trade or make any other transaction in financial investment instruments or attempt to cause a fluctuation in the market price.

The Defendant conspired to sell E and F stocks, which operate “C’s over-the-counter stock site (D)” without obtaining authorization and registration, by spreading false information, such as the scheduled listing of E and F stocks within 2015 via the Internet-over-the-counter stock trading site.

E, on June 2, 2015, at its office located on the eightth floor of the Young-gu G Building in Yong-si, Young-si, G, based on the F listing-related contents delivered by the Defendant, C’s “the progress of the F shares of an enterprise scheduled for bypassing listing and the right listing are scheduled to proceed at the end of each year.

Present 4,500 won is currently prepared to maximize shareholders' profit by making a bypass.

It is viewed that there is 1 billion won in black in 20 billions.

At present, 4,500 won is more than 5,500 won from June 29, because there is a lot of supply compared to demand in the upper half of 2016.

"In the event of purchase of F's shares, advertisements were made as if they could obtain a large amount of profit."

However, F was difficult for the appropriate net loss as of the end of 2014 to anticipate 1,641,781,779 won as its own business in 2015, and the F was not a condition for listing within 2015, and there was no possibility that FM would be 12,000 won during the first half of 2016.

Nevertheless, the Defendant, in collusion with E, sells shares equivalent to KRW 227,50,000 through seven times from June 2, 2015 to June 10, 2015 using a deceptive scheme for the purpose of trading financial investment instruments by the said method, and obtain authorization for a financial investment business.