바카라사이트 추천

1. Case summary

In May 2018, local securities companies subscribed for bonds guaranteed by the CERCG and arranged the issuance and sale of KRW164.5 billion of 바카라사이트 추천 using the bonds as underlying assets. Afterwards, due to the bankruptcy of the CERCG, the bonds were not redeemed, and accordingly, 바카라사이트 추천 was dishonored.

 

The investigative agency conducted an investigation for more than one year. In December 2019, the prosecution prosecuted the securities companies and their employees for violating the Act on Aggravated Punishment for Specific Economic Crimes and the Capital Markets Act. They were accused of concealing the material fact that 바카라사이트 추천 was required to be registered with the Chinese foreign currency control office, defrauding other securities companies of KRW160 billion, and gaining money in the name of advance commissions by using documents in which material information was not indicated or was omitted or which contain other descriptions or indications.

 

We defended a securities company and its employees.

 

2. Our role and the court’s judgment

 

The criminal lawsuit was filed in December 2019. In February 2022, the district court delivered a judgement. Until that time, 13 trial sessions were held, and there was a fierce battle between the prosecution and the defendants, including interrogations of numerous witnesses and financial experts. The Seoul Central District Court fully accepted our argument, and sentenced all the defendants to be innocent in February 2022.

 

Afterwards, the prosecutors filed an appeal with the Seoul High Court. Submitting additional evidence, they added a claim against the defendants to the effect that they violated the provision prohibiting unfair solicitation under the Capital Markets Act.

 

We defended the defendants, arguing that even if there were such fraudulent acts as alleged by the prosecutors in the process of issuing the 바카라사이트 추천, the defendants did not have any criminal intent of defraud and the SAFE issue did not constitute a matter subject to unfair solicitation under the Capital Markets Act.

 

After holding several trial sessions, the Seoul High Court fully accepted our argument and found the defendants innocent of the allegations, saying that regarding the SAFE requirement, it is difficult to see that investment risks exist as argued by the prosecutors, it is difficult to see that the defendants did not disclose the SAFE issue to the employees of the company investing in 바카라사이트 추천 or the defendants actively engaged in fraudulent acts, it is difficult to see that it was proved that the defendants had criminal intent to defraud such as their failure to notify the employees of the company that invested in 바카라사이트 추천 about the SAFE issue with knowledge, and it is difficult to conclude that the SAFE issue constitutes a matter subject to unfair solicitation under the Capital Markets Act.

 

3. Implications

 

In the decision, the appeal court conducts various legal reviews and makes reasonable conclusions regarding the scope of liability held by a lead manager in relation to 바카라사이트 추천, the meaning and legal nature of credit assessment of financial instruments conducted by a credit rating agency, the scope of criminal liability held by a financial investment business that sells financial instruments and the scope of the financial investment business operator’s duty to explain.

 

If the prosecutors file an appeal to the high court’s decision, it is expected that the appeal will proceed in the Supreme Court of Korea. We will do our best to ensure that the appeal court’s judgement is upheld in the Supreme Court. We are dealing with other large-scale financial lawsuits relating to diverse capital markets. We will do our best to continue to obtain leading precedents in the 바카라사이트 추천 field.

 

□ Attorneys in charge : Chung In-jin, Shin Hyun-jung, Kim Do-hyung and Seol Jae-sun