The defendant's appeal is dismissed.

1. The summary of the grounds for appeal is that the Defendant agreed to sell 200,000 won (120 won per share) to the victim C, and received KRW 24,400,000,000,000 in total, from two occasions before and after the receipt of the shares. The Defendant did not agree to sell 600,000 won per share to 36,000 won (60 won per share), while selling 60,000 won to 36,000 won per share, and did not agree to receive 12,00,000 won after receiving each share.

Therefore, since the defendant received the second KRW 12 million from the injured party and the transaction is terminated by receiving the second KRW 200,000 from the injured party, and the defendant did not deceiving the injured party as the defendant additionally received KRW 200,000, by deceiving only 1200,00, the judgment of the court below which found the defendant guilty of the facts charged of this case

2. Determination

A. The lower court also asserted the same purport in the lower court’s judgment, and accordingly, the lower court determined that ① the circumstance that the victim agreed to purchase the instant shares at KRW 65 won a week near 60 won per share, i.e., “Advance payment” was confirmed in the notice on a stock trading website; ② the price of the shares sold by the victim to F is KRW 80 per share; ② the price of the shares sold by the victim is 60 won per share if the purchase price is 60 won per share, it is deemed reasonable to make a re-transaction with the market price of KRW 20 per share; ③ the victim sold or purchased the instant shares at KRW 55 through 61 per share from September 24, 2014 to October 29, 2014 (Investigation record 116); ④ the Defendant’s statement that the victim did not immediately receive the shares after deposit at KRW 212 million per share and the credibility of the agreement and the statement made by the victim via the message delivery to the victim.