Pacific Bio, "accounting fraud" withdrew 66 million won fines

[Korea Seo Hye Rin nine financial newspaper reporters - KOSDAQ listed company Pacific Bio is receiving 66 million won in fines imposed for violation of accounting standards was the prosecution prosecution. The company audit in the Shinhan Accounting Corporation imposed the measures, such as audits of the Company Limited.

To the Financial Services Commission under the Securities and Futures Commission on the 12th the 7th regular meeting, open CEO of the company who funded the loan, despite the prosecution accused the inflated equity to missing them in the financial statements, Pacific Bio as of penalties, measures such as fines I decided.

According to jeungseonwi Pacific Bio it borrows money former CEO of the company until last year had the third quarter 2014, despite not base it on the financial statements. In addition, even under impaired jyeoteum company-owned land was auctioned off excess recorded as equity capital. Even though the possibility of debt recovery for the former CEO was pointed out it did not recognize any impairment losses for them.

The jeungseonwi issued a bio-Pacific and former representative to accuse the director of the company while six prosecutors and one penalty fine of 17.9 million won of 16.2 million won, the auditor of the measures specified in three years.

Jeungseonwi also fell for the second year auditing measures for limiting the additional indemnity fund earned 30% bio-Pacific for the company accounting standards violations properly Shinhan Accounting Corporation did not appreciate the.

Certified Public Accountant in charge of two people, the company also has been applied to the audit work restrictions and sanctions, such as stock-listed (except KOSDAQ) specifying limited company audits and job training.



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