A Imprisonment with prison labor for two years and for two years and six months, respectively.

1. The Defendants’ joint crime (Fraud) (including the progress of their business) is exempt from the Defendants’ statement in front of the Defendants’ names, as the case may be.

A around August 2010, Defendant A proposed an international cruise ship operation project for tourism purposes (hereinafter “instant project”) with Jeju-do as the main port, and B had the role of raising administrative and financial support for the instant project, and A decided to take charge of practical affairs, such as attracting investors in the instant project, and A had the position of a substantial representative of “D” (hereinafter “D”) of the Dormant corporation, to carry out the instant project on April 25, 201.

On May 31, 201, the Defendants concluded a business agreement with Jeju Special Self-Governing Province that Jeju Special Self-Governing Province provides Jeju Special Self-Governing Province with administrative and financial support, such as allotment of stone and loan of the Tourism Promotion Fund, for the instant project. However, in the situation where it is necessary to realize the instant project, at the time, approximately KRW 40 billion ($ 35,400,000) from the initial fund, such as vessel leasing expenses, etc., the Defendants attempted to attract outside investors without their own capital to raise funds, but did not intend to attract investments from domestic institutional investors on July 201, but failed to do so.

Accordingly, the Defendants decided to attract investment from individuals who are not institutional investors, and the attraction of such investment was decided by Defendant B. Defendant A prepared a document stating that “The amount of investment in the instant project reaches a total of KRW 41.2 billion, including KRW 2.45 billion,” to be used in attracting individual investors, and provided the document stating “D Investment and Equity Interest” to B.

[Fraud to the victims] After that, Defendant B had the victim H, I, and J at the “G” coffee shop located in F at the Jeju Haman on November 201.