The defendant's appeal is dismissed.

1. Summary of grounds for appeal;

A. The Defendant did not defraud the victim’s Y by deceiving him/her, thereby deceiving him/her of the facts (related to 2017 Gohap 310).

[2018 Case No. 1] The defendant did not deceiving the victim AA or Z, and instead only entered into a provisional contract at the request of the above victims.

At the time, the Defendant prepared for the balance of KRW 80,000,000 in total sales contract with T at the time, but only failed to perform the said provisional contract as T unilaterally reverses the contract.

However, the court below found the defendant guilty of this part of the facts charged, which is erroneous in the misapprehension of facts, thereby affecting the conclusion of the judgment.

B. The lower court’s punishment (five years of imprisonment) is too unreasonable.

2. Determination

A. The Defendant also asserted that the aforementioned facts were identical to the assertion of mistake, and the lower court rejected the aforementioned assertion by providing a detailed statement on the determination.

In light of the evidence duly admitted and examined by the lower court, the lower court’s determination is justifiable, and the Defendant’s assertion of mistake is without merit.

B. Although the Defendant did not actually carry out the business of purchasing and distributing gift certificates, the Defendant, despite having not actually carried out the business of purchasing and distributing gift certificates, he/she had the agreement by deceiving investors as if he/she would have made profits through the said business, guaranteeing the principal of the investment, and paying the amount in excess of the amount, and acquired money systematically from 162 victims exceeding KRW 3.2 billion.

In addition, the defendant committed fraud related to the unmanned loan service separately.

Similar received-type frauds are social as a whole, such as distorted the sound economic order of our society and impairing the general public's awareness of labor.