A defendant shall be punished by imprisonment for two years.

Punishment of the crime

[2017 Highest 1196]

1. The Defendant, as a business member of the AING life insurance company, has been engaged in the business of having the Victim F purchase four insurance policies, such as variable amounts and paid 4 million won monthly insurance premium from July 2007 to the national bank account (H) in the name of the Defendant’s mother, and depositing the insurance premium into ING life insurance company.

On April 27, 2009, the Defendant received 4 million won from the injured party, and used 4 million won for the injured party’s personal use, such as living expenses, etc. at that time, from that time, from that time to January 22, 2010, the Defendant spent 11,000 won in total, as described in (1) of the list of crimes, from that time.

Accordingly, the defendant embezzled the victim's property.

2. The accused was willing to receive money from the surrounding neighbors to use it as business funds, living expenses, etc., as the business fund is required while operating the IFS business in providing welfare services to executive officers and employees of public corporations.

In fact, even if the defendant received money from the victims for the purpose of making investments, he did not have any intent or ability to pay the proceeds to the victims by investing in accordance with the promise with the victims.

Nevertheless,

A. On June 9, 2009, the criminal defendant against the victim J made a false statement to the victim J on the Korean Institute of Science and Technology in Daejeon, Daejeon, Daejeon, 373-1, stating, “When investing KRW 25 million in a private equity fund, the principal shall be guaranteed, and at a rate of 15% per annum, the amount of KRW 32.5 million may be refunded, and at any time, the investor shall return the principal within three months at any time if the investor demands repayment of the principal.”

On June 17, 2009, the Defendant deceivings the victim as above and transferred KRW 25 million to the account (K) of the Defendant’s name.