The appeal is dismissed.

The grounds of appeal are examined (to the extent of supplement in case of supplemental appellate briefs not timely filed).

1. As to the violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud), the criminal intent of defraudation, which is a subjective constituent element of fraud, shall be determined by considering the objective circumstances such as the defendant's financial history before and after the crime, the environment, the contents of the crime, and the process of performing the transaction

(2) In light of the above legal principles, the court shall recognize the existence and content of an expression of intent in accordance with the content of a disposition document, barring special circumstances, inasmuch as the authenticity of a disposition document is recognized. However, in a case where an explicit or implied agreement different from the content of a disposition document is acknowledged, facts different from the content of the statement can be recognized. In interpreting a legal act of the originator, the court may determine the legal act as free evaluation of evidence to the extent that it does not violate the rules of logic and experience.

(2) In light of the above legal principles, the court below's decision of the court of first instance that found the Defendant guilty of the charge of acquiring KRW 1 billion from the victim in return for the fact that the Defendant did not have any intent or ability to purchase the shares of this case within the agreed term, based on the reasons stated in its reasoning, is acceptable. In so doing, contrary to the allegations in the grounds of appeal, the court below did not err by misapprehending the legal principles as to the intention to acquire the shares of this case and the interpretation of the disposal document in fraud or by misunderstanding the facts contrary to logical and empirical rules or by misunderstanding the legal principles as to the criminal intent to acquire the shares and the interpretation of the disposal document.

2. As to the violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Embezzlement), the delegation of the processing of affairs involving the receipt and receipt of money is based on the act.