The judgment of the court below is reversed.

A defendant shall be punished by imprisonment for not less than three years and six months.

Summary of Grounds for Appeal

The defendant asserts that the sentence of the court below (two years of imprisonment) is too unreasonable, and the prosecutor asserts that the sentence of the court below is too unhued and unreasonable.

Judgment

The Defendant, as the manager of a securities company (hereinafter “instant company”) is working in the position of the director, made the victims keep their shares in the form of securities in the course of business, and embezzled the shares of five victims from October 2002 to January 2006 by arbitrarily entering the shares of the victims into the account they used.

The Defendant made an investment in shares for his own interest with funds raised by selling the first half of the instant crime, but caused a big loss, and repeatedly committed the crime of embezzlement to recover the embezzled shares.

The defendant's crime is a person working for a financial institution that requires high level of ethics and who has been in charge of managing the customer's property, and instead, embezzled the property for the benefit of the defendant, and the criminal liability is very heavy due to the very poor method of crime.

The amount of damage caused by the instant crime shall be approximately KRW 2.2 billion.

Of them, the Defendant recovered damages equivalent to approximately KRW 1,050,000 ( approximately KRW 985,000,000,000 recovered securities during the commission of the instant crime, and KRW 65,00,000,000,000,000 paid in the name of the Defendant’s spouse after the commission of the instant crime). The remaining damages were recovered by purchasing and transferring the shares of the instant company.

As to the company of this case, the value of the shares which was not recovered as of the time of the crime of this case was KRW 1.2 billion. However, due to the increase in the share price between the company of this case and the time of recovery of the damage in the form of shares, approximately KRW 2 billion was required.

The amount of KRW 2 billion paid by the Defendant in the name of his spouse is limited to approximately KRW 65 million, and approximately KRW 2.60 million of insurance proceeds received by the instant company.