Each part of the conviction against the Defendants is reversed.

Defendant

A shall be punished by a fine of KRW 4,000,000.

A. The judgment of the court below which found the Defendants guilty of the charges of fraud by misapprehending the legal principles or by misapprehending the legal principles, although the Defendants did not deceiving the victims by falsely notifying the victims of the financial resources, progress of business, and value of land to be provided as security at the time of borrowing money.

B. At the time of lending money to Defendant A, the victim was not notified of the fact that he had already made a provisional payment on the land that was provided as security, and it was inevitable to know that he had come to know after the maturity date of the loan, and it was only the establishment of a collateral security right on the land in order to solve the problem of cancellation of the above provisional payment period first.

Nevertheless, the Defendants violated the duty to set up the right to collateral security against the victim without any justifiable reason and completed the right to collateral security in the other person’s future. As such, the Defendants’ intent of breach of trust should be recognized.

Therefore, the judgment of the court below which acquitted the Defendants of this part of the charges on the grounds that the Defendants cannot be recognized as the criminal intent of breach of trust is erroneous in the misapprehension of facts or in the misapprehension of legal principles

2. Whether fraud is established against the Defendants

A. 1) The summary of this part of the facts charged is that: (a) while operating the Real Estate Development Business Co., Ltd., a person, including financial institutions, has purchased forest land and other land with loans or investments from others, including financial institutions, and has developed it as a site for a whole house and has conducted a business to resell it; and (b) the Defendant operates a real estate brokerage office.

A, when purchasing land from E on January 201, 201, around KRW 200 million from the Defendant, KRW 300,000 from Ulsan East East East Easternern Group, KRW 150,000 from F, and KRW 100,000 from G, each of which is KRW 750,000,000 from G.