The defendant's appeal is dismissed.

1. The summary of the grounds for appeal is that the Defendant, a company D (hereinafter “D”) which it operated, received construction from the victim M continuously and has sufficient inventory assets at the time of receiving telecommunications equipment from the victim M, and thus, the Defendant had the ability to repay. However, it was improper for the lower court to find the Defendant guilty of fraud in the facts charged by recognizing the intention of deception and guilty of fraud among the facts charged, even though it was not provided with the intent to acquire the equipment by deception, because it did not directly receive the payment for the completed portion from the ordering office of the above construction at the time of the payment due, and caused unexpected losses from another construction site at the time of the payment due, and it was impossible for the lower court to pay the equipment. In light of the circumstances leading up to each crime in the lower judgment, the lower court is so unfair that it is too unreasonable

2. Determination

A. According to the evidence duly examined and adopted in the lower court’s judgment on the assertion of mistake of facts, D, around December 30, 2009, entered into a contract with the Seoul Meart for the Construction Work (hereinafter “Seoul Meart”) and undertaken the Construction Work. D, up to the time when the victim was supplied with the equipment as indicated in the lower judgment, 4-5 billion won was paid as the price for Seoul Meart, while 1.5 billion won was paid as the construction cost. At the time of the completion of the construction work, D, a sum of KRW 2.9 billion was paid until the completion of the construction work; D, a sum of KRW 2.9 billion was pressured by the Industrial Bank of Korea as the Seoul Meart on August 30, 2010, used loans of KRW 270 million from the Industrial Bank of Korea to cover the construction cost; D, around May 2010, 2000 as the cost for the Construction Work and the Construction Work System of Hyundai 10.2.