The judgment of the first instance shall be reversed.

The defendant shall be innocent.

1. misunderstanding of the gist of the grounds for appeal (the defendant, who is only the head of the site site branch of the Co., Ltd., was able to believe the words of executives and directly invest more than 100 million won in a large amount of direct investment, and was only an employee who recommended the investment of the victim E as part of the ordinary business activities of the Co., Ltd., and there was no independent deception of the victim and there was no intention to commit fraud for the defendant at the time when the defendant did not know the victim,) misunderstanding of legal principles (the defendant was subject to a disposition from the Seoul Central District Prosecutors' Office on December 13, 2010 that there was no suspicion of fraud, so his act was not subject to punishment for fraud, and there was no legitimate ground

A. The intent of the crime of defraudation, which is a subjective constituent element of the crime of fraud, shall be determined by comprehensively taking into account the objective circumstances, such as the Defendant’s financial history, environment, content of the crime, and the process of performing transactions before and after the crime, insofar as the Defendant does not make a confession. The criminal intent is sufficient not to have a fixed intention but to do so, and dolusent intent means the case where it is acknowledged that the possibility of the occurrence of the crime is uncertain, and the possibility of the occurrence of the crime is recognized. In order to have a willful negligence at the time of the crime, there must be awareness of the possibility of the occurrence of the crime, as well as the internal intent to allow the risk of the crime. Whether the actor permitted the possibility of the occurrence of the crime must be determined by considering how the general public can evaluate the possibility of the occurrence of the crime from the perspective of the offender’s perspective, without depending on the statement of the offender.

In this case, there is a dolusent intention, which is a subjective constituent element of the crime which has been prosecuted.