Defendant

B Imprisonment for three years, for one year and six months, for Defendant A, and for eight months, for Defendant C, respectively.

except that this shall not apply.

Punishment of the crime

Defendant

B The representative director, Defendant A, and C of the K Co., Ltd. (hereinafter referred to as “K”) located in the former J building 209 during Ansan-si.

The above Defendants planned to proceed with an urban development project in the original L district, entered into a joint agreement with M Co., Ltd. (hereinafter “M”) on May 25, 2006 in relation to the above project, and applied for designation of an urban development zone and development plan on October 16, 2006, and obtained the approval of district designation on April 13, 2007, and obtained designation from Gangwon-do on April 1, 2008.

In addition, on March 28, 2008, the application for the authorization of implementation plan was made on September 3, 2008 and approved on September 3, 2008. On March 12, 2010, the application for the authorization of modification of implementation plan was made on August 20, 2010 to change part of the site of multi-family housing among the land of the original city as quasi-residential site.

1. On May 26, 2006, K entered into a joint business agreement with MM and issued a promissory note of KRW 30 billion on a lot Capital Co., Ltd. (hereinafter “Slun Capital”), and M makes an endorsement to raise business funds.

During that period, M suspended the execution of project costs around 2007, and around June 11, 2008, on June 13, 2008, M filed an application for provisional injunction against disposal of real estate on the land other than N, N, and four parcels of the project site A, the ownership transfer registration of which was made in the name of Chuncheon District Court for the preservation of claims for the original loan support.

Since M did not pay the above Promissory Notes on June 16, 2008, M paid the above Promissory Notes by subrogation.

As above, the above Defendants conspired to set up a right to collateral security with the false debt in order to evade compulsory execution.

Defendant A is the defendant at a place where it is impossible to identify the place around June 26, 2008.