The judgment of the court below (including the portion not guilty) shall be reversed.

Defendant

B Imprisonment with prison labor for one year, Defendant D's imprisonment for two years and six months.

1. The grounds of appeal are examined to the extent of supplement in case the defense counsel’s written opinion, etc. presented after the period for submitting the grounds of appeal expires;

A. Defendant B (1) The misunderstanding of the facts and the legal principles did not intend to commit the instant market price operation with Defendant E, etc., and only traded shares for the purpose of personal market price profit.

Even if the defendant was involved in the crime of running the market price of this case

Even if there is a time to commit the crime before the beginning of February 2012, when Defendant E received 290,000 shares from Defendant E, and since then after the beginning of February 2012, it is irrelevant to the Defendant.

Therefore, the lower court erred by misapprehending the facts and misapprehending the legal doctrine, thereby finding the Defendant guilty.

2) The sentence of the lower court (one year and six months of probation, three years of probation in one year and six months of imprisonment, and one hundred and twenty hours of community service) against an unfair defendant in sentencing is too unreasonable.

B. Defendant D1) In the event of violation of the Financial Investment Services and Capital Markets Act (hereinafter “Capital Market Act”) due to market price manipulation, there is no fact that the Defendant delegated A with the sale of AL shares or the financing through the provision of security, and there is no order that AL’s share price be artificially supported.

Even if the defendant instructed the market price maneuverable share transaction.

Even if Defendant E does not proceed to the market price manipulation, it does not constitute a violation of the Capital Market Act against Defendant E, which is premised on Defendant E’s act of operating the market price.

B) Calculation of the amount of benefit per side (1) In calculating the amount of unfair benefit arising from the instant market price operation crime, the share price increase due to the defensive information, such as the Vietnam 3 saw supply project of AL and the promotion of SNS projects related to election, must be deducted.

(2) BY, BH, BF, B, Z, CA,U, BG, CB,CC, CD, and CE (total of these “BY, etc.”).