The judgment of the court below is reversed.

A defendant shall be punished by imprisonment for three years.

1. The summary of the facts charged of the instant case is that the Defendant, as a substantial manager of the Victim E Co., Ltd. (hereinafter “victim E”), deposited USD 8 million in the account of the Victim Co., Ltd. on June 23, 2000 in collusion with F, and promoted the issuance of USD 10,000,000 among overseas convertible bonds to the victim Co., Ltd. at the victim Co., Ltd’s office of the 10th floor of Gangnam-gu Seoul Metropolitan Government Office as a major company for the purpose of raising funds for the investment in new business facilities and operation of the Victim Co., Ltd., Ltd., the Defendant would immediately withdraw USD 8 million and return it to H et al., and the Defendant possessed convertible bonds and convertible bonds equivalent to the above amount, by pretending that the Defendant purchased convertible bonds by raising USD 8 million from H and I, etc. on June 23, 200.

As above, since overseas convertible bonds amounting to US$8 million are not actually sold, the defendant and the victim company who actually manage the victim company should not issue overseas convertible bonds, and even in case of domestic issuance, even if issued in violation of their duties, even if they were to be recovered and retired, they were converted from the victim company to US$8 million (Korean US$9.53 billion) around September 200, and then sold them to acquire financial benefits equivalent to the above amount and suffered losses from the victim company.

2. According to the evidence submitted by the prosecutor, the court below held that the defendant raised 4 million U.S. dollars from H or I and immediately repaid the amount, but the defendant's securities exceeded 4 million U.S. dollars.