A defendant shall be punished by imprisonment for seven years.

Punishment of the crime

From December 30, 2013 to June 7, 2017, the Defendant was operating an unregistered investment company under the name of D in an irregular place not exceeding Busan Shipping Daegu.

1. Around February 2014, the Defendant, in violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud), made a false statement to the victim E by paying a high amount of 100% per annum to 150% per annum as a sale of stocks, and guaranteeing the investment cost by paying a high amount of 10% to 150% per annum.

However, in fact, the Defendant did not have any special career in stock investment, and operated a business with a “return structure” in which the former investor’s earnings and principal are paid with the investment money of subordinate investors, and did not have any intent or ability to pay the principal and interest promised to the victim even if he received the investment money under the name of stock investment.

Around February 6, 2014, the Defendant deceivings the victim as above and transferred KRW 5,00,000 to the Defendant’s bank account in the name of the Defendant.

The Defendant, including that, from around that time to May 11, 2017, received a total of KRW 4,968,762,00 from six victims over 367 times, such as the list of crimes in attached Form (1) in the same manner.

Accordingly, the defendant deceivings the victims and received property from the victims.

2. The Defendant, at the place described in paragraph 1 around January 2014, by deceiving the Victim F in the same manner as that described in paragraph 1, and was transferred KRW 15,00,000 to the deposit account of the Defendant’s name around January 21, 2014 from the victim.

The Defendant, including this, from around that time to June 2, 2017, indicated the following methods in the indictment of KRW 7,069,183,041 in total from 64 victims up to 816 times, such as the list of crimes (2) in attached Form 7,072,183,041, and the list of crimes (2), but this is stated as “ KRW 7,072,183,041.”