The judgment of the court below is reversed.

The defendant is not guilty. The summary of the above judgment shall be publicly notified.

1. Summary of grounds for appeal;

A. In full view of the following circumstances, the Defendant did not deceiving the complainant, and the complainant cannot be deemed to have taken a disposition due to the Defendant’s deception.

① At the time when the complainant agreed to sell H apartment 5 bonds unsold in lots to the Defendant (hereinafter “instant apartment”), H apartment was in a state of having low sales records and high interest burden, and the Defendant transferred the instant apartment to the concept of investment.

(2) The Defendant notified the complainant in advance of the fact that the apartment in this case was loaned as collateral and used as the down payment for the I land as the planning stage of the land development project presented by the Defendant, because it was difficult to dispose of the apartment in this case, and the possibility of success in the real estate development project presented by the Defendant is not clear.

(3) Therefore, the defendant is not guilty of deceiving the complainant.

B. The lower court’s sentencing (two years of imprisonment) is too unreasonable.

2. Determination

A. 1) The summary of the facts charged is that the Defendant is a real estate development company D (hereinafter “D”).

E is a person operating company, and the complainant E is a company F (hereinafter referred to as the “Appellant”) which is a company implementing apartment construction projects.

A) A person operating a H apartment (hereinafter referred to as “H apartment”) of the Cheongju-si executed by the Appellant by the Appellant introduced through G, the Defendant.

(1) The land (hereinafter “I land”) in Seo-gu, Seo-gu, Seo-gu, Seo-gu, Seo-gu, and other land (hereinafter “I land”) in which D had already purchased an unsold housing unit on credit, and borrowed money as security.

The land purchase fund for the development of the industrial site shall be used.