The part of the judgment of the court of first instance and the judgment of the court of second instance are reversed.

The defendant shall be punished by imprisonment for nine years.

1. Summary of grounds for appeal by the defendant;

A. Regarding the judgment of the court below 1, the prosecutor's statement of the first instance court is inadmissible, and all statements of AW, BD, AY, BG, AA, BH, and AS were false, but the court below erred in finding facts due to erroneous selection of evidence. 2) The fact that 7 billion won for AG (Article 1-1 (a) of embezzlement and misunderstanding of legal principles) was embezzled (Article 1-1 (a) of the court below's 11 billion won loaned to AG, not the actual loan, but the original decision made a false loan for Co-Defendant AJ to receive the proceeds of AJ sale. The court below's 10 billion won was exchanged with the amount of 10 billion won, which the Co-Defendant 1 had been mobilized for money laundering and returned to AA. Therefore, since the ultimate owner of 7 billion won was determined from the beginning to purchase management rights of the defendant, the defendant did not have any intention to acquire the above AJ's 10 billion won of the 100 billion won capital increase contract.

B. (1) The Defendant requested AM, N, or AO to purchase and lend 468,018 shares of his/her own stock held in the name of AM, N, or AO, and accordingly, A purchased the shares and subsequently lends them again to the Defendant. As such, the Defendant is exempted from returning the same quantity of shares, and the Defendant is subject to embezzlement.