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

1. Defendant B is the actual business owner of E Co., Ltd. established for the purpose of building business and sales agency business in Ulsan-gu, Nam-gu (hereinafter “E”), Defendant A is the representative director in the name of the E Co., Ltd. from July 24, 2012 to October 17 of the same year, and from November 23, 2012 to November 23, 2012.

Around February 28, 2012, E’s former representative director F entered into a contract to subcontract construction works worth KRW 650 million in construction amount with the J (hereinafter “J”) which is a contractor, and shall pay KRW 250 million in cash in lieu of performing construction charges. Around June 28, 2012, in the above J office located in Ulsan-gu, Ulsan-gu, U.S., Seoul to pay KRW 202,00,000,000 in cash, I borrowed KRW 12,20,000,000 in the name of the mother of L who is the mortgagee designated as a mortgagee, and the victim paid KRW 12,650,000 in the sale contract under the name of J as a loan.

On July 24, 2012, the Defendants concluded a transfer contract with F to the effect that “the Defendants acquire all acts and rights to the E Co., Ltd. and corporations,” and, as seen above, were aware of the fact that the transfer registration contract was concluded between I and the victim with respect to the said lending B 202 offered to I as payment in kind, and thus, there was a duty to implement the transfer registration procedure with respect to the said 202.

Nevertheless, on November 6, 2012, the Defendants, in violation of the above duties, completed the registration of ownership transfer with respect to 202 above in the name of N around November 6, 2012 for the purpose of obtaining a loan by providing the above lending as collateral, and completed the registration of creation of collateral security with respect to the above 202,00,000 won with the maximum debt amount, 124,000,000,000,000,000 under the name of loan from the above association.