The Defendant, along with B and C, is a person who actually operates D, (State), (State), F, (State), G, and H (State). The term “loan against loan against loan against credit means a system of issuing credit sales bonds to a selling company instead of paying the purchase price to the company that purchased goods or services from the selling company in cash or in bills, and the selling company receives the loan from the bank as collateral for the credit sales. Here, the term “ purchasing company” means an enterprise that purchases goods or services from the selling company and issues the electronic credit sales bonds, and the term “sales company” means an enterprise that receives the payment with the electronic credit sales bonds by providing goods to the purchasing company and receiving the payment with the electronic credit sales bonds (Article 3 of the Regulations on the Handling of Credit Products of Enterprises). Therefore, the credit sales bonds are merely the credit sales bonds issued with ordinary business activities, and the credit sales bonds are excluded from the credit sales bonds issued with the purpose of using the revised regulations on commercial transactions (Article 25(1) of the Regulations on the Handling of Credit Products).

1. (States)G sales claims against (States) E publication for false credit sales claims.