The defendant shall be innocent.

1. On November 201, 201, the Defendant promised to “the Defendant, at the request of B, manage the share transaction account and purchase and sell shares.”

On April 2014, the Defendant purchased 25,650 shares of C Co., Ltd. with the funds of B and kept them by entering them into the E-securities account in the name of the Defendant-friendly D.

Since B did not request the sale of the shares above, the defendant has a duty not to dispose of the shares above.

Nevertheless, on January 25, 2015, the Defendant violated his duties, and told employees at the E-securities pressure stop point in Gangnam-gu Seoul Metropolitan Government F to sell the said shares by telephone. From around that time to February 3, 2015, the Defendant sold C shares of 25,000 shares at KRW 241,920,460.

As a result, the Defendant acquired property benefits equivalent to KRW 241,920,460 of the share price of the above C Co., Ltd., and suffered damages equivalent to the same amount from B.

2. Determination

A. The following circumstances are acknowledged according to the evidence duly adopted and investigated by the court.

① The Defendant, on behalf of B, who is an executive officer or employee of a financial institution that is unable to directly engage in stock transaction, conducted a stock transaction by proxy on behalf of B, and received KRW 50 million from B on November 201, and traded shares through G, which is the parent of the Defendant, and through the account in the name of D.

② The Defendant sold shares more than KRW 50 million, which was initially remitted by B, and the balance amounted to KRW 130 million around April 2014.

B around May 2014, around KRW 130 million, requested the Defendant to purchase C shares, a KOSDAQ-listed company, and the Defendant purchased approximately KRW 500,000 per share using the said money.

(3) Since January 2015, as the value of C Shares has increased to approximately KRW 10,00 per share, the Defendant shall start from January 29, 2015.