The prosecutor's appeal is dismissed.

1. Summary of the facts charged in this case

A. A. Around November 2012, the Defendant was proceeding with construction of a new building in the Gangseo-gu Seoul Metropolitan Government F and H building, I, B, Dong, Young-do, and Switzerland located in Eunpyeong-gu, Seoul. However, the Defendant was taking out a loan on the land at the construction site as collateral because it was impossible for the Defendant to raise the construction cost for the said construction site, and the Defendant was raising the construction cost by lending money to J as it did not borrow the construction cost for the construction site, except for the wooden Dong and Young-do construction site. The Defendant is proceeding with the construction project to a certain extent as the minimum construction cost, and the construction is being conducted by lending the land from the bonds company, etc. as collateral and raising the additional construction cost by obtaining the loan from the bonds company, etc., and it is difficult for the Defendant to meet with the funds such as using the money borrowed from the construction site as the construction cost at the other construction site, and the construction business operator is unable to fully pay the construction cost for the construction project operator’s land and building owned by the victim E after receiving 1/2 shares in the above land and building site.

On November 19, 2012, at a restaurant operated by the victim E in Eunpyeong-gu Seoul Metropolitan Government, the Defendant: (a) obtained a loan of the amount of KRW 710 million to KRW 800 million from the Seoul Gangseo-gu L land owned by the Party as collateral to construct a multi-household building on the said land; (b) completed the construction of the land and the new building, and paid KRW 780 million to the Party: Provided, That where construction is intended, the Defendant shall obtain a loan; (c) a loan shall be possible from the community credit cooperative up to KRW 300 million per person; (d) a loan may be made from the community credit cooperative up to KRW 60 million per person; and (e) a false statement was made to M as it is possible to grant a loan to the person in charge of the construction up to KRW 1/2 of the shares of the land and the building up to KRW 1/2 of the shares of the land and the building."

However, the community credit cooperatives shall, upon receiving an appraisal, be given an appraisal.