1. The judgment of the first instance court, including a claim modified in the trial, shall be modified as follows:

Defendant B, C, D, and E.

1. Basic facts

A. He Co., Ltd. and Defendants (hereinafter “H”) collected investment money from many unspecified persons under the pretext of bond and securities trading business, etc. and conducted a business of fund-raising without delay.

Sheshe operated H as the representative director of H, and as the vice president of H, I was in charge of overall operation of H with G, and actually operated H, and Defendant B was in charge of management and custody of other group heads and operating directors, and was in charge of the explanation of national tax payment shares, management and custody of affiliated investors. Defendant C was in charge of the receipt of investment and the payment of investment attraction allowances. Defendant C was in charge of the management and investment attraction of investment as a director under Defendant B’s affiliated business, and Defendant B was in charge of investment attraction, such as investment solicitation, business explanation, and delivery of investment funds. Defendant C was in charge of investment attraction as a business director under Defendant B’s affiliated business, and Defendant E supported G and I as the former director of H, and Defendant F was in charge of administrative management of the company, and Defendant B was the husband of Defendant B.

B. From around July 15, 201, H’s office of the fifth floor of the building located in Yeongdeungpo-gu Seoul Metropolitan Government is a company making an investment in national tax payment shares, and H will guarantee the principal and profits if the investment is made. “The Plaintiff will return the principal and the principal equivalent to 18-22% of the principal within 90 days to the Plaintiff regardless of the principal of the investment.” On the same day, the Plaintiff received KRW 40 million from January 17, 201 to October 21, 201, including the Plaintiff who received KRW 40,000,000 from January 17, 2011 to October 201, 207, the Plaintiff was charged with a violation of the Act on the Regulation of Investor’s Receiving of Securities.