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Q

Will I be detained for fraud?

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I made some money with Bitcoin and posted on an online community, compiling my income records and how I get in and out of trades. I also posted that if people entrusted their funds to me, I would help them avoid losing their principal, and I received money from people. Then quite a lot of people gathered, and things did not go as well as expected, so the balance fell below the principal. Those people filed a criminal complaint against me for fraud. Is this a matter that could lead to detention for fraud?

detention for fraud

A

Answer to Related Inquiry

Hello. This is Daeryun Law LLC.

Whatever the circumstances, if you find yourself in the position of an accused person who could face detention for fraud, this is not a matter to be taken lightly, so you should be sure to seek the assistance of a legal representative.


The crime of fraud may be established when a person, with intent and an intent to unlawfully acquire, deceives another and thereby receives the delivery of property or obtains a pecuniary benefit.

According to the Criminal Act, if a person commits a deceptive act likely to cause another to be mistaken in deciding on some course of conduct and thereby causes financial harm, the crime of fraud is established; there is no particular standard for what constitutes deception here, but it may be established if a person is led into a mistaken belief.

The crime of fraud is basically a serious offense that, under the Criminal Act, can be punished by up to 10 years of imprisonment or a fine not exceeding 20 million won, and because the level of punishment for fraud also increases depending on the amount defrauded, it can become a serious problem.

In addition, if the amount of harm is 500 million won or more, the offense is also punished under the Act on Aggravated Punishment of Specific Economic Crimes, and the punishment may be increased to imprisonment for a definite term of at least 3 years, so we recommend that you conduct a careful review of the case with a specialized attorney.

The more victims there are or the larger the amount, the more likely investigative agencies are to apply pressure, and because ordinary people find it difficult to respond clearly to this, there is a possibility that they may make statements unfavorable to themselves before the investigative agency.

So please do not respond alone, and to prevent detention for fraud, resolve the matter together with defense counsel who provides advice tailored to your situation and supports you legally so that you may receive lenient treatment.

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