The judgment of the court below is reversed.

A defendant shall be punished by imprisonment for not less than three years and six months.

1. Summary of grounds for appeal;

A. The common assertion of misunderstanding of facts (1) that is common (the part concerning the fraud against K, S, J, and AH) is sufficient to pay the construction cost, loan, discount, etc. by receiving additional loans from financial institutions around 2010, and thus, there was no intention to defraudation.

(2) On December 2, 2010, the Defendant received a discount of KRW 45,550,000 from the Victim S on the part of the fraud of the borrowed money Nos. 27 through 29 in the annexed Table Nos. 27 through 29 in the judgment of the court below with respect to the Victim S. on the basis of a discount of KRW 50,000 from the victim S on the face value of KRW 45,50,000. Of them, KRW 23,00,000 is offset by the repayment of the existing obligation, and only KRW 22,50,000 was paid at a discount.

The fraud of the borrowed amount of KRW 22,50,000,000,000,000 from Nos. 27 through 29 of the annexed crime list in the decision of the court below, is overlapping with the damage amount of KRW 45,00,00,000.

(3) On July 2010, the Defendant at the victim J did not say that “When a promissory note (Y) was delivered by the victim J, it would be returned to the Defendant at the time of lending one of the Promissory Notes (Y), it would not be said that it would be used at a discounted rate.”

The defendant at a discount on the check, etc. received from J, paid to the victim J money exceeding KRW 50 million, and used the remainder as construction cost, etc., so the defendant did not have any intention to defraud the defendant.

(4) The Defendant paid 50 million won or more to the issuer, who was the issuer of the check, out of the amount received at the discount of the check number per share and the promissory note, and at the time, the Defendant could not have anticipated the check to be defaulted. Therefore, the Defendant did not have the intent to acquire it by deception.

B. Considering that the Defendant paid not less than KRW 200 million to S of unreasonable sentencing, but not more than KRW 100 million, and the Defendant paid not less than KRW 550 million to J, the lower court’s imprisonment (one-year imprisonment) is too unreasonable.