Defendant shall be punished by a fine of KRW 400,000.

Where the defendant fails to pay the above fine, one hundred thousand won shall be one day.

Punishment of the crime

On August 18, 2005, the Defendant had the obligation to pay KRW 20 million to the obligee B according to the contract deposit ruling 2004Gau12491 rendered by the Suwon District Court Decision on August 18, 2005. On May 12, 2015, the Seoul Northern District Court made a decision of performance recommendation for the said obligation.

The act of concealing the debtor's assets for the purpose of seeking his/her own interest or any other person's interest and impairing the creditor and the debtor shall not be decided to commence the rehabilitation procedures or simplified rehabilitation procedures.

1. On June 18, 2015, the Defendant transferred KRW 2.8 million from the bank account under the name of the Defendant to a bank account under the name of the Nonparty C, a rural village, for the purpose of avoiding the seizure of the deposit claims in B at an unclaimed place.

2. On June 23, 2015, the Defendant withdrawn in cash the sum of KRW 1 million and KRW 2,300,000 from the bank account in the name of the Defendant to avoid the seizure of the deposit claims in B at a non-place.

3. On June 24, 2015, the Defendant terminated the collective savings for subscription for house and received KRW 804,630 in cash in order to avoid seizure at a bank located in Seoul Special Metropolitan City, Nowon-gu.

As above, the Defendant committed an act of concealing property with a view to promoting his own interest or any other person’s interest or impairing the creditors, and the debtor was decided to commence individual rehabilitation procedures at the Seoul Central District Court on January 28, 2016, and the decision became final and conclusive due to the lapse of the objection period.

Summary of Evidence

1. Defendant's legal statement;

1. The police statement concerning B;

1. A complaint;

1. Investigation report (case where the subscription for a house is terminated);

1. Application of the Act and subordinate statutes, such as the case search, judgment, decision on performance recommendation, certificate of deposit transaction performance, and B case search (2015, 107097)

1. Relevant Article 643 (1) 1 of the Debtor Rehabilitation and Bankruptcy Act concerning facts constituting an offense and Article 643 (1) 1 of the same Act concerning the option of a penalty;

1. Articles 70 (1) and 69 (2) of the Criminal Act for the detention of a workhouse;

1. The Criminal Procedure Act;