The judgment below

The guilty part (including the acquittal part of the reasons) shall be reversed.

A defendant shall be punished by imprisonment for ten years.

(e).

1. Summary of grounds for appeal;

A. Defendant 1) misunderstanding of facts and misapprehension of legal principles A) each fraud against the victims listed in the 1-1 list of crimes attached to the original judgment (Article 1 of the facts stated in the judgment below) (Article 1 of the facts as stated in the judgment below). The Defendant, the chairperson of AX Group A, is a company NW (hereinafter “NW”), a company located in Seoul Special Metropolitan City, Nowon-gu, and AG company (hereinafter “AG”); AJ company (hereinafter “AJ”), a company located in Seongbuk-gu Seoul, a member of the Seoul, carrying on a sobrying project (hereinafter “AJ”), AW company (hereinafter “AW”), AW company (hereinafter “M”), a private person, carrying on a sobrying project (hereinafter “AW”), AWU company located in Ansan-gu, Seoul, carrying on a sobrying project (hereinafter “GM”); QU Co., Ltd., Ltd., Ltd., Ltd., Ltd. (hereinafter “AVM”), and QU (hereinafter “MU”), AWU Co., Ltd. (hereinafter “MU”).

At the request of the victims listed in attached Table 1-1 of the List of Offenses 1-1 of the court below, a affiliated private person B, from the time when he invests in the auction, he/she paid interest to him/her while keeping, managing, and using the investment money, so there is no fact that he/she deceivings the victims.

She even if the Defendant used the investment money differently from the purpose recognized by the above victims.

Even such circumstance alone that there was a criminal intent to obtain fraud from the defendant

It shall not be readily concluded.

B) (i) the violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud) in the name of the purchase price of the victim’s V stocks to the victimO (criminal facts stated in the judgment below) (Article 2). The victimO acquired V after undergoing a sufficient inspection on V, and acquired V, thereby making the defective state of V.