All the judgment below is reversed.

Defendants shall be punished by imprisonment for one year and six months.

However, as to Defendant B, the same shall apply.

1. Summary of grounds for appeal;

A. Defendant A1) misunderstanding the facts and misapprehension of the legal principles, Defendant A had the intent and ability to issue converted bonds to the victim L by accepting the corporation I.

There was an intention or ability to circumvent the I by accepting the certificate of listing.

In the process of attracting investments from damaged persons, false information was not notified to the contrary.

2) The sentence of the lower court’s unfair sentencing (two years of imprisonment) is too unreasonable.

B. Prosecutor 1) misunderstanding of the legal doctrine (the part not guilty for the reason), the instant crime is a single-purpose crime that uses the same motive and method under the same criminal intent for the same victim.

2) The lower court’s sentence against Defendant A, who committed an unfair sentencing against Defendant A, is too unreasonable.

2. Determination on the misapprehension of facts and misapprehension of legal principles

A. As to Defendant A’s assertion, the lower court determined that Defendant A’s act of receiving money by soliciting investment to a victim who was not aware of such circumstances, in the circumstances where it is practically impossible for Defendant A to acquire and list I from the beginning to pay the profits to the victim, and that such act constitutes deception by intention with respect to the victim.

Specific reasons for judgment are as follows.

① On November 2015, Defendant A recommended that the victim could also be listed and made a big profit by offering the following: (a) Defendant A, along with Defendant B, made an investment to the effect that: (b) the victim would also have his personal seal impression; (c) the certificate of personal seal impression; and (d) the agreement on transfer of management rights; and

In addition, it received money from the damaged party by soliciting additional investment as necessary expenses for the acceptance of the listing company for the right listing.

Defendant

A introduced itself as the Chairperson, and acted as if the victim had considerable control over I.

The injured party is in the position of the defendant A to issue convertible bonds of I, and the defendant A will be in the future.