The defendant's appeal is dismissed.

1. The summary of the grounds for appeal (misunderstanding of facts or misunderstanding of legal principles) C received investment money from the victims after organizing the business with the Defendant and agreed to assume the responsibility of each investor, and thus the Defendant is not liable to commit the act of receiving fraud or similar facts as an accomplice.

2. Determination:

A. Meanwhile, in a case where one of the solicitors among the public-private partnership principals has left from the public-private partnership before the others reach the commission of the public-private partnership, he/she shall not be held liable as a joint principal for the subsequent act of the public-private partnership. However, in the public-private partnership, the deviation from the public-private partnership requires the public-private partnership to resolve the functional control of the act performed by the public-private partnership. Thus, when the public-private partnership participated in leading the public contest and has an impact on the execution of the other public-private partnership, the public-private partnership, unless it has

In light of the records, the following circumstances, which are recognized in light of the evidence of this case (see Supreme Court Decision 2008Do1274, Apr. 10, 2008). (b) the Defendant: (i) held an investment presentation meeting from February 16, 2016 to March 2016 and led the victims to make an investment by holding it; and (ii) the victims believed such investment presentation meeting and served as the head of a group jointly with the Defendant from February 16, 2016 or from March 24, 2016 to March 2016.

Comprehensively taking account of the following: (a) the sum of KRW 17.76 million invested to C; (c) the content of the Defendant’s investment explanation corresponds to the receipt of a similar violation of the Act on the Regulation of Fraud and the Act on the Regulation of Deserting Fraud as stated in the facts charged; and (iv) the Defendant suspended his or her activities on March 2016 and did not commit any act related to C’s conduct.