On January 27, 2012, the Defendant was sentenced to the suspension of the execution of the imprisonment of 8 months for fraud in the Gwangju District Court's Netcheon Branch, which became final and conclusive on April 17, 2012.

On January 2009, the Defendant was expected to proceed with F Resort and Marine In-depth Development Project at the instant coffee shop located in YY YA in order to meet the Defendant’s “F resort and Marine In-depth Development Project at E E in line with the holding of E-ray.”

In order to carry on the business by gathering the viewing persons and to purchase 1,500,000 square meters of the project site, whether it is possible to substitute the purchase of the site for the real estate sector.

“At the end of January 2009, the victim’s consent has been obtained, and thereafter, the victim called the victim on the last day of January 2009, “The deep-sea water development project now is well progress, and this phase has been progress until this Convention (MOU) has been reached.

In order to purchase a site, the President of D (victim) has to receive the money of this kind and enter into a contract, and in order to believe each other, the contract deposit amount of KRW 100 million has been changed. On December 30, 2009, the contract deposit amount of KRW 100 million has been terminated.

However, in fact, the Defendant did not enter into an agreement but did not have any means to deposit KRW 15 billion with a business deposit at the time of leisure. Therefore, it was difficult to enter into an agreement in reality because it did not have any means to do so. At the time, there was a situation in which, as the financial situation was difficult to pay the auction expenses or office rents on the land owned by the Defendant, the amount suffered from the damaged person is not stored for the purpose of the deposit but should be appropriated for the shortage of expenses or auction expenses, etc., so even if the damaged person received the deposit from the damaged person in accordance with the service contract, the Defendant did not have any intent or ability to actually purchase the land.