The prosecutor's appeal is dismissed.

1. According to the summary of the grounds for appeal, the court below acquitted the Defendants on the charges of this case, although the Defendants, while in office as the former president of the association, borrowed money from six persons including the Defendants in advance without going through the resolution of the general meeting of the association of this case, and used it as operating expenses of the association, etc., the court below found them not guilty. The judgment below

2. The summary of the facts charged is the person who served as the president of the partnership from August 22, 2012 to February 28, 2016 from the “F Housing Redevelopment and Improvement Project Association” (hereinafter “instant partnership”) located in Yongsan-gu Seoul Metropolitan Government (hereinafter “instant partnership”); and Defendant B is a person who serves as the president of the instant partnership from March 1, 2016 to the present date.

No executive officer of an association shall promote business at will without a resolution of the general meeting comprised of its members with respect to borrowing of funds, method of such borrowing, interest rate, and method of repayment.

Nevertheless, on January 7, 2015, Defendant A borrowed KRW 23,582,172 on 45 occasions from four members, including members G, etc. to February 26, 2016 and did not undergo a resolution at a general meeting. On March 8, 2016, Defendant B borrowed KRW 500,000,000 from H (one pre-name: I) in relation to the improvement project of the instant association from the above office of the instant association, on condition that the funds for the future operation of the association will be settled at interest without interest rate of 6% per annum from G, and borrowed KRW 50,000,000 from March 26, 2016 to March 26, 2016, Defendant B did not undergo a resolution at the general meeting, including: (ii) in the case of borrowing KRW 500,500,000 on the condition that the funds for operation of the association will be normally secured from the above office of the instant association.

Accordingly, the Defendants’ instant case.