Defendants are not guilty. The summary of the judgment against the Defendants is publicly announced.

1. Summary of the facts charged

A. The Defendants’ fraud (1) of KRW 200 million on November 22, 2010 and KRW 50 million on November 23, 2010, in collusion with the Defendants, and around November 23, 2010, at the victim E’s residence of Sinpo-si 103 Dong 1003, and around November 22, 2010, Defendant A: (a) sold the land in the vicinity of Sinpo-gun, if there is a shortage of balance to obtain a successful bid for G, which is a play facility in Sinpo-Gun F, in an auction; and (b) if there is a shortage of balance, Defendant B sold the land in the vicinity of Sinpo-gun and immediately repaid it to the victims; and (c) Defendant B loaned the ownership of all property to women who concluded with B, under the name of Jindo-gun, and is also developing the island, and there is no concern that it might be a money for a hot spring development project.

However, the Defendants alleged that they were not Defendant A, but Defendant B, who did not have the ability to repay the aforementioned set of money, and that the victim had the intent to avoid the liability to repay the said money on behalf of Defendant B. Therefore, even if they borrowed money from the victim, they did not have the intent or ability to repay the money.

On November 22, 2010, the Defendants received 200 million won from the victim to the new cooperation account in the name of H Co., Ltd. operated by Defendant A, and acquired it through the money.

(2) On November 23, 2010, the Defendants conspired to sell the land and make a payment immediately after selling the land if the remainder of the auction price is more than KRW 50,000,000,000,000, and if not, Defendant B would make a payment immediately after the husband’s retirement payment is settled. Defendant B’s value of interest set forth in A, a person who does not want to receive a successful bid, is more than 4.8 billion won.