All appeals filed by the prosecutor against the Defendants are dismissed.

The summary of the grounds for appeal is as follows: (a) with respect to the defraudedation of KRW 90,00 concerning the Defendants’ joint crime, the part concerning HJ projects, ① the victim’s consistent statement; (b) the victim’s investment funds were used in the development project for the mushroom growing complex, which is not the “J projects” (hereinafter “J projects”) of H Co., Ltd. (hereinafter “H”); (c) the Defendants were aware of such circumstances; (d) while the victims were unaware of such circumstances; (c) the Defendants did not know of such circumstances; and (d) the Defendants did not have any reason to conclude that the Defendants would be liable to the victims if the Defendants played a role of attracting funds; and (d) the Defendants were well aware of the content of the “J projects” and the circumstances that the said projects were not normally carried out.

The Defendants invested KRW 300 million in connection with the sales agency business of Q, the main shop located in Seodaemun-gu P University, the main shop located in the Seodaemun-gu (hereinafter “R shopping mall”). However, even though the Defendants invested KRW 300 million in the distribution agency business of Q, the main shop in front of the P University, the Defendants relied on only the loan due to the lack of financial capacity, and the actual loan was refused and the loan was not implemented until now, and ② the Defendants did not have the intent or ability to repay the principal and interest on the agreed date even if they invested in money from the damaged person, taking into account the fact that the terms of investment in the R shopping mall sales business are premised on the removal of limited real rights. Therefore, the Defendants’ fraud is sufficiently recognized.

Defendant

B's assertion of 20,000 won fraud, ① a consistent statement consistent with the facts charged by the victim, ② a criminal agreement of M, which the victim came to know due to the business relationship, will also be prepared.