The prosecutor's appeal is dismissed.

1. The summary of the grounds of appeal 1) The victim consistently stated that "the defendant lent money to the defendants as collateral with N (hereinafter "N")'s shares, the defendants provided a new investment certificate for P's shares to Q as collateral, and returned the N shares already offered as collateral to the defendants." Some of the statements are reversed by mistake, and the victim's statement that the contents of the loan certificate received from the defendants are provided as collateral for N shares is consistent with the victim's statement that the contents of the loan certificate will be provided as collateral, and therefore, the victim's statement of this part is credibility. 2) The witness V was a witness to the defendants, and 150,000 won was returned to the defendant on January 25, 2007. It is difficult to believe that the victim's statement of witness V is insufficient in light of the following: (a) there is no objective evidence to prove that the victim was a share returned by the victim on January 25, 2007, and (b) the victim was not repaid a large amount of loan.

3) The copy of the investment certificate that the victim received from the Defendants is a knife of the material similar to the original of the investment certificate, and the certificate of the personal seal impression of the Defendant A is attached to the copy of the investment certificate, which can be fully recognized by the Defendants in that the victim who received the copy of the investment certificate was to mislead the victim to believe that it is the same as the original of the investment certificate and to have sufficient security value. 4) As above, the Defendants’ intent to commit fraud has credibility in the victim’s statement, and even if the Defendants’ intent to commit fraud can be sufficiently recognized, the lower court rejected the credibility of the victim’s statement on the ground of the witness V’s legal statement, and acquitted the Defendants on the ground that there is no other evidence to prove the facts charged.

2. Determination

(a) preliminary.