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

However, 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 and C, foreigners of Mongolian nationality, and those who intend to engage in foreign exchange business, have been registered with the Minister of Strategy and Finance with sufficient capital facilities and professional human resources to engage in foreign exchange business as prescribed by Presidential Decree, but C, a foreign exchange business entity organized a mutual foreign exchange business entity referred to as “D” and play a general role in the management of affairs, such as remittance, withdrawal, and delivery of money, etc. according to C’s instructions, and the Defendant, without registration with the Minister of Strategy and Finance, received money from clients who desire to transfer money from Mongolia or Mongolia to Korea from Mongolia or from Mongolia, and conspired to engage in foreign exchange business by using the term “Refund” method, which is directly paid by the remitter or to the account or person designated by the remitter.

On June 1, 2015, the Defendant received KRW 5,277,200 from a name-free bank account (G) in the name-free person who wants to transfer from Korea to Mongolia, from a name-free person who wants to transfer from Korea to Mongolia, and then issued a telephone number code to the above name-free person who is an employee of Mongolia, and notified the above telephone number code to the above name-free person who is an employee of Mongolia, the Defendant kept the money excluding 1% of the money requested to transfer from Mongolia to the designated person after converting the above telephone number code into Mongolia and paying the money to the person who is not entitled to receive the above transfer. The Defendant kept the money received as above in order to immediately withdraw from Mongolia to pay the money requested to transfer from Mongolia.

In addition, the Defendant received the transfer request from January 13, 2013 to June 1, 2015 the sum of KRW 14,060,513,853, which is equivalent to the total amount of KRW 14,060,513,853 from Mongolia or Mongolia, as stated in the separate crime list, from around January 13, 2013 to June 1, 2015.