[Edaily Reporter Kwon Oh Seok ] NuriFlex(040160)announced on the 3rd that it had been acquitted by the court of first instance on charges of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes and violations of the Subsidy Management Act, for which it was indicted in 2023. However, relevant executives and employees were found guilty of bid-rigging.
According to the disclosure, in its first-instance ruling handed down on the 30th of last month, the Seoul Northern District Court acquitted Cho Song-man, the current CSO (Chief Strategy Officer) of NuriFlex, and former CEO Kim Young-deok of fraud charges under the Act on the Aggravated Punishment of Specific Economic Crimes. Furthermore, NuriFlex, along with CSO Cho Song-man and former CEO Kim Young-deok, who were indicted on charges of violating the Act on the Management of Subsidies, were all acquitted.
However, regarding the charges of bid-rigging, CSO Cho Song-man was sentenced to two years in prison (without immediate detention), while former Vice President Kim Han-soo and former Nurivista Director Yoo Sang-geun were each sentenced to one year in prison, suspended for two years. NuriFlex plans to appeal the first-instance ruling on the bid-rigging charges.