All appeals by the Defendants are dismissed.

1. Summary of grounds for appeal;

A. Under the below, the defendant uses the name "the defendant" only for the defendant who falls under each item, and the remaining defendant shall state only his name.

A The court below held that among the facts charged in this case against Defendant A, the prosecutor committed a violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud) by covering all of the damaged financial institutions, and held that there is a single violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud). In relation to the facts charged in the judgment of the court below which prosecuted the violation of Article 3 (1) 1 of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes, it should be deemed that the violation of Article 3 (1) 2 of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud), independent of each damaged financial institution by each damaged financial institution, and therefore this part of the facts charged shall be deemed to constitute a violation of the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud) due to the violation of Article 3 (1) 2 of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud). However, the above facts charged did not be tried separately on the ground that each damaged financial institution

As a prosecutor did not appeal against this, the part of innocence against Defendant A was exempted from the object of attack and defense between the parties, and was excluded from the object of de facto inquiry, and otherwise, matters to be deliberated and determined ex officio are not visible.

Therefore, the conclusion of the judgment of the court below is followed with respect to the acquittal portion above, and only the guilty portion of the judgment of the court below is examined.

1) The Defendant committed a violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud) with 2014 high Gohap3, and when considering the market price, etc. at the time, I apartment, N apartment, andO apartment provided as security to the victimized financial institutions.