Defendant

A A Fine of KRW 10,00,000, KRW 10,000, KRW 10,000, KRW 100,000, Defendant C is punished by fine of KRW 5,00,00, and Defendant D.

Punishment of the crime

Defendant

A In the course of engaging in a business such as inviting investors who wish to “FX M&,” Defendant B is in charge of installing a security device and system of the “FX M&A” automatic program. Defendant C is in charge of the business, attracting customers, and managing customer accounts, and Defendant D conspired to take charge of the business of opening and withdrawing accounts necessary for the “FX M&A” project.

1. Any person who violates the Foreign Exchange Transactions Act shall be equipped with capital, facilities, and human resources and obtain approval from the head of the Ministry of Finance and Economy, who intends to engage in the business of buying and selling, exchanging, or lending foreign currencies, the brokerage of derivatives transactions based on foreign currencies, and other related business affairs (hereinafter referred to as "foreign exchange brokerage business");

Nevertheless, the Defendants conspired to engage in foreign exchange brokerage business, such as establishment of an overseas exchange intermediary account, provision of relevant automatic trading programs, and provision of information on remittance method of deposit money, so that domestic investors wishing to “FX M&C” without obtaining authorization from the planning director of the Ministry of Finance and Economy, can perform “FX M&C” with foreign exchange intermediary companies, etc.

In collusion, around August 28, 2015, the Defendants paid the deposit money necessary for the “FX E Apartment, F, and foreign exchange intermediary company in Ulsan-gu, Ulsan-gu, and New Zealand’s “FX M&C”, the Defendants: (a) caused G to transfer KRW 45 million to the I Bank Account (J) in the name of H; and (b) caused G, H, K, and L to transfer KRW 237 million in total as the deposit money from around the above day to September 24, 2015, without obtaining authorization from the Director of the Ministry of Finance and Economy; and (c) conducted foreign exchange brokerage without obtaining authorization from G, H, K, and L.

2. Any person who violates the Financial Investment Services and Capital Markets Act shall not obtain authorization for a financial investment business;