All appeals by the Defendants and the Prosecutor are dismissed.

1. Summary of grounds for appeal;

A. Defendant A(1) Of the judgment of the court below on the erroneous determination of facts, there is an error of law that affected the conclusion of the judgment by misunderstanding the facts as seen below and misunderstanding the facts as seen below. A) Defendant A’s fraud with the victim F in the case of 200 million won (hereinafter “F”) received from the victim F (hereinafter “F”), used 140 million won out of the investment amount of 200 million won to promote Mac factoring business, and used the remaining 60 million won as operating expenses of “D 1”, such as paying the smuggling benefits to the employees of D 1.

However, at the time, F had already been aware that it is difficult to operate the "D 1" point, and it was said that Defendant A would use part of the investment funds as the operating expenses of the "D 1" point, so it was no longer problematic.

In addition, at the time, Defendant A was convicted that the Maspact business will be successfully successful, and the operating expenses of “D 1 points” are also considered to be part of the expenses incurred in indirectly implementing the Mspact business.

In light of these points, it cannot be said that Defendant A had a criminal intent to obtain fraud.

(2) The Defendant A’s occupational embezzlement due to the embezzlement of sales proceeds led to F to the head of the Tong and the eck card, etc. of the account in which the member’s membership fees are deposited at F’s request after the conclusion of the Dong business agreement with F on the “D 1”. However, the Defendant A became difficult to operate the “D 1” point on the wind of embezzlement, such as using the membership fees deposited in the said account for personal purposes unrelated to the operation of “D 1”.

Therefore, Defendant A received membership fees directly from members and used them as operating expenses of “D 1 point”, such as personnel expenses of employees, so Defendant A did not intend to obtain unlawful income.

B) The Defendants of the instant case are victims L (hereinafter “L”) only.

(1) money;