The judgment below

Each part of the defendant's case is reversed, and that part of the case is remanded to the Seoul High Court.

The grounds of appeal are examined (to the extent of supplement in case of supplemental appellate briefs not timely filed).

1.(a)

The facts charged of the instant case revealed that Defendant B, while constructing the instant aggregate building, borrowed KRW 2.8 billion from Samcheon Mutual Savings Bank (hereinafter “TTB”), and entered into a real estate security trust agreement with the land trust company for the newly constructed aggregate building (hereinafter “Korea Land Trust”) as collateral, Defendant B, a construction business operator of the said newly constructed aggregate building without notifying the victims of the conclusion of the security trust agreement, issued a contract for sale in lots of the aggregate building as collateral and issued the contract for sale in lots of the said newly constructed aggregate building as if there is value for collateral and had the victims proceed with the construction work or delayed the repayment of the debt, and Defendant A committed a crime jointly with Defendant B in the manner of on-site management, such as ordering construction from the construction site in relation to the crime against Victim V and X.

B. The first instance court acquitted the victims of the part of the charges related to the victim V and X, on the ground that there was no disposal act of the victims with respect to the part of the construction work performed at the time of the delivery of the contract for sale in lots.

In addition, the lower court rendered a not guilty verdict on the part of the facts charged related to the victim P, which was already conducted at the time of delivery of the sales contract, for the same reason, and convicted all the remaining facts charged of fraud.

2. However, the lower court’s convictions as above are as follows.