The prosecutor's appeal is dismissed.

1. The summary of the facts charged is as follows: (a) around September 2009, the victim D lent KRW 3.75 billion to E as collateral 1.17 million shares of the Hague FF Korea Co., Ltd. (hereinafter “instant shares”); (b) around September 24, 2009, the victim D was not reimbursed the remainder KRW 2.9 billion after having returned KRW 850 million from E on September 24, 2009.

On September 27, 2009, the victim was introduced F through E (the Seoul Central District Court sentenced eight months to embezzlement on April 29, 201, which became final and conclusive on July 28, 2011) in order to recover the remainder of the shares, and was proposed to sell the remainder 670,000 shares to repay KRW 2,90,000,000 if the victim provided the shares as security from F.

On the other hand, F made an investment proposal with respect to the shares of this case to the Defendant, and entered into an investment agreement with the effect that “F will provide 20% of the investment amount as security in cash and guarantee an earning rate of 10% per month,” and that “F will receive 20% of the investment amount as security and purchase 670,000 shares out of the shares of this case in cash, and E will guarantee the principal and 10% of the investment amount.”

On September 28, 2009, F prepared a written investment agreement with E by stating that “I will purchase the remaining 6.70,000 shares if you leave 20,000 shares of the shares of this case, and repay the loan, and if I will not trade the shares of this case, I will return all of them.” The victim who sited in company with E was trusted and delivered to E 20,000 shares out of the shares of this case.

Before investing KRW 3 billion in the shares of this case to F, the Defendant demanded 200,000 shares out of the shares of this case as a security for damages incurred when purchasing 670,000 shares of this case, and E is under the name of G, the Defendant’s employees, who are 200,000 shares of this case.