The judgment of the court below is reversed.

Defendant shall be punished by imprisonment for a term of two years and six months and by a fine of 5,00,000 won.

The above fine shall be imposed on the defendant.

The summary of the grounds for appeal by the defense counsel (fact-finding) is as follows: (a) the Defendant decided to transfer 78,000 shares issued by E to D in KRW 200,000; (b) the Defendant received KRW 15,000,000 as the down payment from D around May 22, 2009 and received KRW 138,620,000 in total from June 1, 2009 to November 20, 2011; and (c) the Defendant did not receive the said money as the investment money for the unmanned bicycle lending System operated by E or E, such as as written in the facts charged.

A Co., Ltd. was selected from the I-Gu Office as a priority bidder for the bicycle unmanned loan system business and was highly likely to be selected as a business operator, but the I-Gu Office failed to continue the business due to the circumstances such as waiver of the above business.

Therefore, even though the defendant deceivings the victim as stated in the facts charged, not by deceiving the above money under the pretext of the investigation case and investment funds, and did not have the intention of deception, the court below erred by misunderstanding the facts and affecting the conclusion of the judgment by finding the defendant guilty of all the facts charged.

The Defendant’s fraud against the victim M by borrowing KRW 100,00,00 from L, his father, who has been entrusted with the operation of “K” only for three months, to normalize the operation of “K” and, if normalized, has given his/her consent.

Accordingly, L directly borrowed KRW 100,000,000 from M and used it for the purpose of operating funds, etc., and there is no fact that the defendant deceiving M.

Nevertheless, the lower court found the Defendant guilty of this part of the facts charged, thereby misunderstanding the facts and adversely affecting the conclusion of the judgment.

The embezzlement of the victim Hyundai Capital Co., Ltd. is a vehicle operated by AR in the name of Hyundai Capital Co., Ltd.