All appeals filed by prosecutors and defendants are dismissed.

1. Summary of grounds for appeal;

A. Prosecutor 1) Error of facts: (a) the Defendant received KRW 10 million from the victim on March 28, 2016 from the victim not as a share investment money but as a loan for children, school expenses, or living expenses; and (b) KRW 22 million received from the victim on April 3, 2016, not as a share resale price; and (c) by deceiving the victim for the purpose of using the victim’s personal debt repayment, etc. with no intent or ability to purchase the shares of H Co., Ltd.; and (d) thus, the lower court erred by misapprehending the fact that each crime of fraud is established, thereby adversely affecting the conclusion of the judgment. (b) The lower court’s judgment that acquitted the Defendant of each part of the charges, even though each crime of fraud is established, is erroneous by misapprehending the fact that each of the charges was

B. The Defendant did not submit the grounds of appeal within the statutory period.

2. According to the records of this case regarding Defendant’s appeal, the following facts are revealed: (a) Defendant was dissatisfied with the lower judgment on February 19, 2019 and submitted a petition of appeal; (b) Defendant did not state the grounds for appeal in the above petition of appeal; and (c) Defendant did not submit the statement of grounds for appeal within 20 days before the deadline for submission of the statement of grounds for appeal, despite being served with the notification of the receipt of the notification of grounds for appeal by this court on March 5, 2019; and (d)

Therefore, the defendant's appeal should be dismissed in accordance with Article 361-4 (1) and Article 361-3 (1) of the Criminal Procedure Act.

3. As to the prosecutor’s assertion of mistake of facts, the lower court: (a) concluded a contract to obtain 1250 million shares of H Co., Ltd. from the victim at the time of receiving money from the victim to obtain a transfer of 125 million shares; (b) paid all the down payment; and (c) agreed to receive shares prior to the payment of any balance under the contract, and thus, the lower court determined that the Defendant would first receive shares.