The judgment below

The part against the defendant shall be reversed.

Defendant shall be punished by imprisonment for a term of one year and two months.

1. Summary of grounds for appeal;

A. Defendant 1) misunderstanding of the facts (the violation of the Financial Investment Services and Capital Markets Act due to the short-term financing business in the name of the G Co., Ltd.) G Co. (hereinafter “G Co., Ltd.”) (hereinafter “G Co.”), M is not the defendant, and the defendant was guilty of this part of the facts charged, although he conspired with E to conduct a short-term financing business in the name of G Co., Ltd., but the defendant did not have conducted a short-term financing business in collusion

2) The punishment sentenced by the lower court (one year of imprisonment) is too unreasonable.

B. The above sentence declared by the prosecutor by the court below is too unhued and unreasonable.

2. Determination

A. Prior to the judgment on the grounds for appeal by the Defendant and the prosecutor, prior to the judgment on the ex officio, the prosecutor applied for changes in the indictment with the following “criminal facts” and the subject of the judgment by this court was changed by granting permission. Therefore, the part of the judgment of the court below against the Defendant cannot be maintained further.

B. Of the judgment below on the Defendant’s assertion of mistake of facts, the Defendant’s assertion of mistake of fact is still subject to the judgment of this court, and this is examined.

Comprehensively taking account of the evidence duly admitted and examined by the court below, the defendant is recognized as having been engaged in short-term financial business without obtaining authorization from the Financial Services Commission by issuing promissory notes in the name of G company in collusion with E as stated in the judgment below, as the actual owner of G company.

In addition, the following circumstances acknowledged by the record, i.e., the defendant denied the crime of violation of the Financial Investment Services and Capital Markets Act in each of the instant cases related to F Co., Ltd and G Co., Ltd., and held the court below five times.