A defendant shall be punished by imprisonment for three years.

Punishment of the crime

"2019 Highest 921"

1. On October 2016, the Defendant’s investment fraud: “C” located in Suwon-si, Suwon-si, Suwon-si; “The victim D and E are engaged in the business of purchasing and distributing the gold at a lower price in a foreign country and directly made the gold at a lower price; the Defendant may obtain profits from the investment; and the neighbors may have already made a lot of profits from this time. The Defendant may begin to run the gold business at KRW 1 billion. From the time of purchasing the gold to the time of distributing it from Seoul to the time of distributing it. The Defendant had already made KRW 4-50 million and the remainder KRW 300 million from the surrounding areas.” The Defendant concluded that “The principal shall be paid at the rate of 5% per month if he/she loans money.”

However, the defendant did not operate the above business, did not secure KRW 700 million, and did not have a certain occupation at the time, so even if he received the above money from the victims, he did not have the intention or ability to pay it, and was thought to use it for living expenses only.

Nevertheless, around October 15, 2016, the Defendant received 30 million won from the victim to the F bank account (G) account in the name of the Defendant, and received from that time the Defendant received total of eight times from August 1, 2017, such as the list of crimes (1) as shown in attached Table 241,620,000, from August 1, 2017.

2. On March 21, 2018, the Defendant made a false statement to the victim H that “A vehicle will be purchased at a price significantly lower than the average bid price by making an operation of an automobile auction.”

However, in fact, the defendant did not know about the automobile auction operation, so there was no ability to operate the auction, and there was a plan to use the vehicle from the beginning to purchase the vehicle.