All of the appeals by prosecutors are dismissed.

1. The Prosecutor’s grounds of appeal are as follows. The lower court erred by misapprehending the facts for the following reasons.

A. On April 14, 2008, the Defendants violated the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud) were notified of the commencement of the public auction procedure on the part of the Incheon Cheongjin-gun, Incheon, N, and 15 parcels (hereinafter “instant land”). Although N was only paid KRW 300 million out of the purchase and sale contract deposit, N entered into a side agreement with N on the instant land and entered into a receipt stating the false details that 3 billion of the down payment was paid. The Defendants were unable to receive 2.7 billion of the down payment due to the Defendants’ failure to pay 2.7 billion won of the down payment, and the Defendant’s statement was contrary to this, it was difficult for PF lending to be executed prior to the public auction, and in fact, it was impossible for the Defendants to believe that the Defendants did not use the PF golf course development project (hereinafter “instant investment project”) promoted by the Defendants due to the public sale of the instant land, the Defendants did not fully consider the possibility of the Defendants’ failure to use the PFF loan development project.

It is reasonable to regard as such.

B. Fraud: (a) Defendant B entered into an agreement to coordinate the terms and conditions of loan with T and to promote loan.

The statement, T deposited 36 million won into Defendant B’s account, and Defendant B delivered the loan promotion expenses to AP by means of loan broker.

Considering the absence of data to determine the person, Defendant B may receive a large amount of loan in collusion with S.

Frauded the damaged person;

must be viewed.

2. Judgment (Abstract: Fraud is a delivery of property or property by deceiving another person to make an error and inducing a dispositive act.