Examining the evidence duly adopted and examined by the lower court and the first instance court, the lower court was justifiable to have found the Defendants guilty of violating the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud) among the modified facts charged against the Defendants on the grounds stated in its reasoning.

In doing so, the lower court did not err by exceeding the bounds of the principle of free evaluation in violation of logical and empirical rules, by exceeding the bounds of the principle of free evaluation, or by misapprehending the legal doctrine on the calculation of gains in the crime of deception and disposal in fraud, or by violating the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud),

Therefore, all appeals are dismissed. It is so decided as per Disposition by the assent of all participating Justices on the bench.