1. The part against the defendant in the judgment of the first instance is revoked.

2. The defendant is jointly with the co-defendant B of the first instance trial.

1. Determination as to the cause of claim

A. Comprehensively taking account of the overall purport of the arguments between Gap 1 and 5, the joint defendant B of the first instance trial (hereinafter "B") established D, a similar receiver, and manages its business as its representative, and the defendant borrowed or invested money from many persons including the plaintiff, while taking charge of managing the funds and managing the office and raising investors as managing the managing director of the above company, and the defendant ordered the defendant to invite investors by publicizing the company without any intent or ability to pay the interest promised to new investors, and the defendant can be found to have violated the law of 200,000,000,000,000,000,000,000,000,000,000,000,000,0000,000,000,000,000,000,000,000,000,000,000,000,000,000,00,000.

B. The Act on the Regulation of Conducting Fund-Raising Business without Permission prohibits the act of fund-raising business without permission, and criminal punishment for the act of violating this provision is to prevent a person without public trust from disturbing financial order by raising funds from many and unspecified persons, and to prevent damage to a third party who is induced in the act of fund-raising business without permission. Thus, the act of fund-raising business without permission is not only subject to criminal punishment but also subject to