A defendant shall be punished by imprisonment for three years.

Punishment of the crime

1. Around December 19, 2014, the Defendant violated the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud) against the victim B stated that “If he/she lends money to the victim, he/she would try to make an investment in the capital loan business in the Daejeon area. If he/she lends money to the victim, he/she would pay the principal and 2% interest after one month after the lapse of the week.”

However, around that time, the Defendant bears a loan obligation of approximately KRW 575 million, and paid interest KRW 4.5 million every month, and used approximately KRW 8 million every month due to living expenses.

Therefore, even if the victim received KRW 30 million from the victim, it was intended to use it for the purpose of paying the principal and interest of loan, living expenses, etc., and did not have the intent or ability to make investments in the loan business. Since the profit to be paid to the victim was also prepared by using the money acquired by another person, there was no intention or ability to pay the principal and interest normally to the victim.

Ultimately, as above, the Defendant, by deceiving the victim as above, received KRW 30 million from the victim to the bank account under the name of the Defendant on the same day, and acquired the money by deceiving the victim in total of KRW 4.82 billion from that time to April 3, 2018, as shown in the attached list of crimes (1).

2. On April 2017, the Defendant made a false statement to the victim E that “If there are many time old apartments in the ceiling, if the Defendant borrowed money, he/she would again purchase the apartment paper and then pay the principal and interest of 2% by selling it.”

However, as described in paragraph (1), the Defendant was liable for a large amount of loans, and around that time, the Defendant’s repayment of the borrowed money from those people is referred to as “refiscing.”