【The Defendant was sentenced to a suspended sentence of three years on April 1, 2016 at the Seoul Northern District Court on April 1, 2016 due to a violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes, which became final and conclusive on April 9, 2016 and is currently under suspended sentence.

【Criminal facts” from March 8, 2006, the Defendant operated D Co., Ltd. from Seoul, Yeongdeungpo-gu, Seoul, and the third floor to import and sell the steel products for construction from China and Japan, and the said company suffered approximately KRW 14.9 billion loss on or around 2013, and was sentenced to bankruptcy by the Seoul Central District Court on September 8, 2015 due to the aggravation of the financial standing of the company thereafter.

In fact, while importing the iron, the Defendant was unable to sell the steel to E, a victimized company, which voluntarily wished to purchase the steel, without paying the said banks a security right to transfer the steel that it imported to the Industrial Bank of Korea, the Korean Bank, and the Nonghyup Bank. Moreover, the Defendant was unable to sell the steel that he imported from the Defendant’s operating company without paying the steel that he had the right to dispose of the steel that he imported and stored in the distribution warehouse, and it was difficult for the Defendant to take account of the financial circumstances of the company, and even if the non-performing bonds were in a state of not less than eight billion won and there was little possibility to recover the bonds as bad bonds, the Defendant was thought to be used as the fund for the operation of the smuggling even if he was paid the steel by the victimized company, and even if the bank did not have the intent or ability to deliver the steel that was normally to the victimized company with the steel transfer price, and did not receive the steel transfer price from the Defendant’s operating company as if he had the right to sell the steel in a normal way.

1. On August 16, 2013, the Defendant entered into a contract to sell to the damaged company KRW 4,991,660 g 3,267,054,362, which was kept in the F warehouse located in Incheon at the D office around August 16, 2013, and the Defendant sold to the damaged company around August 22, 2013.