All appeals are dismissed.

The grounds of appeal are examined.

1. Even if examining the reasoning of the Defendants’ appeal based on relevant legal principles and evidence, the lower court found the Defendants guilty on the grounds that the entire facts charged were recognized on the grounds as stated in its reasoning, contrary to what is alleged in the grounds of appeal, did not err by misapprehending the facts contrary to logical and empirical rules, or by misapprehending the legal principles regarding the scope of recognition of persons who sell facilities or invite members in violation of Articles 20(1) and 20(2) of the Tourism Promotion Act, fraud in fraud, deception, and the relationship with the person who acquired property disposal.

2. In light of the records, there is no evidence to view that Defendant A, B, and C falls under the subject of examination of eligibility under Article 32(1) of the Act on Corporate Governance of Financial Companies on the grounds of the prosecutor’s appeal. Therefore, the lower court’s failure to separately examine and decide on the above Defendants from the offense of violating the Act on Specialized Credit Financial Business among the facts charged in this case.

3. Therefore, all appeals are dismissed. It is so decided as per Disposition by the assent of all participating Justices on the bench.