All appeals by the defendant and the prosecutor are dismissed.

1. Summary of grounds for appeal;

A. Defendant (1) and misunderstanding of the legal principles (A) of the lower judgment [2016 order 2303] In relation to each fraud, the Defendant received investment funds from the injured party for the business that is likely to have profitability and sexual intercourse, and the Defendant actually promoted the business, but failed to do so, went into operation due to unexpected circumstances.

Therefore, the criminal intent of defraudation is not recognized for the accused.

(B) As to the violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Aggravated Punishment, etc. of Specific Economic Crimes) in the judgment of the court below [2016 High Order 3218], the total amount of KRW 25 million shall be excluded from the amount of mediation, and the amount of KRW 15 million in the judgment of the court below shall be deducted from the amount of KRW 1,5 million among the amount of KRW 1,000,000,000 in the total of KRW 1,60,000 in the judgment of the court below and KRW 2,000 in the amount of KRW 1,5 million in the judgment of the court below and the amount of KRW 2,00 in the amount of KRW 1,5 million in the judgment of the court below shall be deducted from the amount of mediation and the amount of additional collection.

(2) The sentence of the lower court’s unfair sentencing (two years of imprisonment, three years of suspended execution, and additional collection) is too unreasonable.

B. According to the evidence submitted by the prosecutor (1) and submitted by the prosecutor, the defendant can be found to have received KRW 50 million from the injured party as “the name of the principal milk investment fund” and the criminal intent of defraudation is recognized.

(2) The sentence of the lower court’s improper sentencing is too uneasible and unreasonable.

2. Determination

A. (1) The Defendant alleged that the lower court had the same purport as the allegation in the grounds of appeal, but the lower court rejected the above assertion and found the Defendant guilty of this part of the facts charged on the grounds of its stated reasoning, comprehensively taking into account the following evidence.

A thorough examination of the evidence duly adopted and examined by the court below in light of the records, the judgment of the court below that found the defendant guilty of this part of the facts charged is just.