The judgment below

The remainder of the compensation order, excluding the compensation order, shall be reversed.

A defendant shall be punished by imprisonment for three years.

1. The main point of the grounds for appeal is that the court below's imprisonment (four years of imprisonment) is too unreasonable.

2. In light of the fact that the Defendant was sentenced to a fine of two times before and after the judgment, and the amount of the defraudation of this case is a total of KRW 480 million, while the Defendant is against the Defendant, the Defendant’s agreement is reached between the victim M (amount of KRW 28 million) and the victim W (amount of KRW 67 million) in the trial at the lower court, and the total amount of the damage amount of KRW 60 million out of the damage amount to the victims was partially recovered due to repayment, etc., the lower court’s punishment is deemed to be heavy.

3. In conclusion, the judgment of the court below is reversed in accordance with Article 364(6) of the Criminal Procedure Act on the grounds that the defendant's appeal is with merit.

[Dao-written judgment] The criminal facts against the defendant recognized by the court and the summary of the evidence are as stated in the corresponding column of each judgment of the court below, and thus, they are cited as it is in accordance with Article 369 of the Criminal Procedure Act.

Application of Statutes

1. Article 347(1) of the Criminal Act applicable to the relevant criminal facts (the fact of fraud, including the fact of some fraud), Article 30 of the Criminal Act (the point of fraud against E and D), Article 231 of the Criminal Act (the point of fraud against D), Articles 234 and 231 of the Criminal Act (the point of uttering of each falsified Investigation Document);

1. Articles 40 and 50 of the Criminal Act of the Commercial Concurrent Crimes (the crimes of uttering of each falsified or document described in Article 4-2 (b) of the judgment of the original court, and the crimes of uttering of each falsified or perjury which are the largest of the crimes shall be punished);

1. Selection of each sentence of imprisonment;

1. Of concurrent crimes, the former part of Article 37, Article 38 (1) 2, and Article 50 of the Criminal Act (Aggravation of concurrent crimes in the crimes of fraud against victims E with the largest punishment);