Criminal Liability and Defense Strategies for Involvement in LBank Fraud
Criminal Liability Faced by Perpetrators Involved in LBank Fraud
The most immediate consequence faced by individuals involved in LBank-related fraud is criminal liability.
Where a person deceives another and obtains property or pecuniary benefits, the offense constitutes fraud, punishable by up to 10 years’ imprisonment or a fine of up to KRW 20 million under Article 347(1) of the Korean Criminal Act.
In addition, under the Act on the Aggravated Punishment, etc. of Specific Economic Crimes, penalties are enhanced depending on the amount fraudulently obtained:
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KRW 50 billion or more: life imprisonment or imprisonment for not less than 5 years
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KRW 5 billion or more but less than KRW 50 billion: imprisonment for not less than 3 years
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A fine equivalent to the amount fraudulently obtained may be imposed concurrently.
Furthermore, a person who commits telecommunications-based financial fraud may be punished by imprisonment for not less than one year or a fine ranging from three to five times the criminal proceeds, or both, pursuant to Article 15-2(1) of the Act on the Prevention of Telecommunications-Based Financial Fraud and Refund of Damages.
Liability Varies Depending on the Role Played in LBank Fraud
In LBank fraud cases, the severity of criminal liability varies depending on the participant’s role within the scheme.
Those who act as masterminds or planners by designing and operating the overall structure face the heaviest punishment. Individuals who direct or instruct others may be evaluated as instigators or indirect principals.
Even those who merely handle cash withdrawals or transfer funds may be punished as co-principals or accessories to telecommunications-based financial fraud.
Simply claiming that one “followed instructions” does not exempt liability. Providing bank accounts or lending one’s name is also considered conduct that facilitates fraud and is subject to criminal punishment.
In LBank fraud investigations, the key criterion is not the amount actually obtained, but rather the individual’s role within the overall criminal structure.
Defense Strategies After Being Identified as a Suspect in LBank Fraud
If you are identified as a suspect in an LBank fraud case, early-stage action is critical.
Before appearing for questioning, it is essential to immediately retain legal counsel and participate in investigations with counsel present. A single statement or expression made during questioning may later be used as unfavorable evidence at trial.
Where involvement is established, efforts toward victim restitution and settlement play a significant role in sentencing. Compensation and settlement with victims may be considered mitigating factors that reduce punishment.
Conversely, flight, destruction of evidence, additional offenses, or attempts to coerce or threaten victims must never be taken lightly, as such conduct can decisively aggravate sentencing.
For those enduring daily fear and uncertainty as a result of this case, it must be clearly recognized that the choices made now may determine the course of their future.
How Decent Law Firm Assists in LBank Fraud Cases
LBank fraud cases involve complex structures and overlapping legal provisions, making strategic action from the outset indispensable.
Decent Law Firm carefully analyzes each participant’s role and level of involvement to define the scope of liability, and formulates defense strategies to prevent the case from expanding unfavorably during the investigative stage.
Defense theories must differ clearly between peripheral participants and core figures, and approaches to statements, evidence organization, and victim restitution must be tailored to each individual case.
Large-scale financial fraud cases such as LBank fraud should never be handled lightly. Without 전문적인 legal assistance, they can lead to irreversible consequences.
Drawing on extensive experience in such matters, Decent Law Firm provides practical and effective legal representation from the initial investigation through trial.
If you need assistance, you may consider working with Decent’s Virtual Asset Defense Team. We stand ready to serve as a reliable shield against the severe consequences of imprisonment.
