The prosecutor's appeal is dismissed.

1. According to each evidence submitted by the prosecutor of the gist of the grounds for appeal, even though the defendant conspired with F in collusion with F, by deceiving the victims, by deceiving the victims, or by deceiving the victims by using F as a tool or the defrauded and by deceiving them, the court below found the victims not guilty of the facts charged by misapprehending the legal principles or by misapprehending the legal principles.

2. In light of the facts and circumstances as stated in the judgment of the court below, it is insufficient to recognize that F had dolusences about the defendant's deception plan. Thus, it cannot be concluded that the defendant and F conspireds with the victim to acquire the victim's property, and further, it cannot be concluded that the victim was predicted or intended to make an investment in the purchase of unregistered shares because a talk about the investment conditions or the attraction of investors presented by the defendant through F was delivered to the victims.

Therefore, using the fact that H Co., Ltd. issued convertible bonds, the victims may be deemed to have suffered property damage by inducing investment that is difficult for the defendant to reasonably explain to F by using the fact that H, but it is difficult to evaluate the victims to have acquired property by deceiving them. Therefore, the facts charged in this case constitute a case where there is no proof of crime.

3. Examining each evidence adopted and examined by the court below in a thorough manner, the above judgment of the court below is just, and there is no error of misconception of facts or misapprehension of legal principles as alleged by the prosecutor.

The prosecutor's assertion is without merit.

4. The appeal by the prosecutor of the conclusion is groundless, and it is dismissed in accordance with Article 364(4) of the Criminal Procedure Act. It is so decided as per Disposition.