The prosecutor's appeal is dismissed.

1. Summary of the grounds for appeal;

A. The Defendant, in the context of fraud, agreed to repurchase KRW 4,00 per share if the victims who purchased the shares of the Company B purchased the said shares in KRW 2,500 per share after seven months, to repurchase KRW 4,00 per share in an emergency trading market. The Defendant did not have any intent or ability to implement the repurchase agreement at the time of such agreement.

B. The Defendant entered into a repurchase agreement before the victims pay their shares. Accordingly, the Defendant’s business to receive total of KRW 4682 million from the victims as stated in the list of crimes committed in the original judgment and to provide the victims with an agreed to pay their shares in the future in full or in excess of the amount of their shares, as stated in the list of crimes committed in the lower judgment.

2. In full view of the evidence duly adopted and examined by the lower court and the evidence submitted by the lower court and the Defendant, the evidence submitted by the prosecutor alone, which, prior to receiving the payment of shares from the victims, entered into such repurchase agreement.

It is difficult to recognize the fact that the defendant agreed to pay the full amount of investment or an amount exceeding it in the future, and there is no other evidence to acknowledge it, and the judgment of the court below is just and acceptable. The judgment of the court below which acquitted the defendant of the facts charged in this case does not contain any error of mistake of facts as alleged

The prosecutor's assertion is without merit.

3. In conclusion, the prosecutor's appeal is dismissed under Article 364 (4) of the Criminal Procedure Act on the ground that it is without merit.