The judgment of the court below is reversed.

The defendant shall be innocent.

1. On March 28, 2011, the instant facts charged [main facts charged (Fraud)] stated that the Defendant would pay KRW 28,800,000 as the purchase price if he/she transferred 5,760 shares of C stock of C to the victim D, who was a major shareholder of C in the office of Gangnam-gu Seoul, Seoul, to the major shareholder of C, a corporation in Gangnam-gu.

However, in fact, the defendant acquired the above shares from the victim, thereby becoming a major shareholder of 70% of the shares ratio of C, and was intended to neglect management rights of the above company, and did not intend to pay the above shares purchase price to the victim.

Nevertheless, on the same day, the Defendant was transferred from the victim about 5,760 shares owned by the victim.

Accordingly, the Defendant, by deceiving the victim, was delivered 5,760 shares equivalent to KRW 28,800,000 to the victim.

[Preliminary Facts charged (Embezzlement)] The Defendant is a person in charge of the management and fund management of the company while serving as the C representative director of the corporation located in Gangnam-gu Seoul Metropolitan Government B Q from February 9, 2011 to September 2013.

On October 2010, the Defendant demanded that the victim be given a free lease of the victim’s shares equivalent to the remaining 16% of the C’s shares, on the following grounds: “The vice president of H’s BR may have a father’s friendship and C shall have an investment in new media business-related investment from H; on the other hand, the conditions must be 70% of C’s shares within the limit of 54% of C’s shares.”

On March 28, 2011, the Defendant obtained a change of entry of 5,760 shares owned by the victim corresponding to the above 16% under the pretext of free lending from the victim's office in Gangnam-gu, Seoul.

While the Defendant was in custody of the said shares for the victim, the Defendant was notified of the return of said shares on September 3, 2012 by the victim, and on September 13, 2012, the said shares were dated March 28, 2011.