The defendant is innocent. The summary of this judgment shall be notified publicly.

1. The Defendant, as the representative director of the Victim C Co., Ltd. (hereinafter “victim Co., Ltd”) established from July 15, 2013 to February 10, 2014 for the purpose of establishing, cancelling, etc. collective investment schemes, was engaged in overall management of the funds of the Victim Co., Ltd. (hereinafter “victim Co., Ltd.”).

On July 2013, the Defendant: (a) drafted a “written waiver of the right to retirement allowances” stating that “In the event of retirement from a company, the representative director shall not assert the application of the company regulations that shall be set at three times the amount paid to the employee,” and submitted it to the victim company, the Financial Supervisory Service, the accounting auditor, etc., for the period of service from November 24, 201 to June 30, 201; and (b) renounced the right to claim the payment of retirement allowances for the period of service from November 24, 2011 to June 30, 2013; and (c) waiver of the right to claim the payment of retirement allowances exceeding the amount paid to the employee out of the period of service of the representative director on July 15, 2013.

Nevertheless, on February 10, 2014, the defendant was anticipated to be dismissed at the temporary general meeting of shareholders of the victim company scheduled to be the same day, and ordered the victim company to pay retirement allowances to the person in charge of the victim company.

From November 24, 201 to June 30, 2013, the Defendant received total of KRW 17,257,820,00,00 as retirement allowance for the period of office of directors, from July 15, 2013 to February 10, 201, in excess of the amount paid as retirement allowance for the period of office of the representative director from July 15, 2013 to February 10, 201, the Defendant deposited KRW 17,257,820,00 in the agricultural bank account in the name of the Defendant’s wife E in total, including KRW 8,350,750.

Accordingly, the defendant embezzled 17,257,820 won of the victim company, which was in custody on behalf of the victim company.

B. The Defendant’s embezzlement of the representative director’s salary is on or around November 28, 2013.