The judgment of the court below is reversed.

A defendant shall be punished by imprisonment for two years and by a fine of thirty thousand won.

The above fine shall be imposed on the defendant.

1. The summary of the grounds for appeal (e.g., imprisonment with prison labor) by the lower court is too unreasonable.

2. Determination

A. The majority of the victims of this case are 625 million won in total (victim D: 95 million won in embezzlement damage amount, 90 million won in total, 185 million won in total, 100 million won in embezzlement damage amount, 90 million won in fraud damage amount, 90 million won in total, 190 million won in fraud damage amount, 190 million won in total / victim H : the victims are 250 million won in fraud damage amount, 200 million won in total, 250 million in fraud damage amount). The victims are all those who have no experience in investment in commercial buildings with money or money borrowed from a person who has no experience in investment in commercial buildings for a long time, which is disadvantageous to the defendant.

B. However, the defendant led to the confession of the crime of this case and reflects the fact that the defendant paid a total of KRW 625 million to the victims up to the trial, and paid a total of KRW 82,800,000 to the victims (amount of KRW 82,80,000 in original repayment: KRW 542,220,000) and the principal of the damage was completely recovered; the defendant agreed to pay the victims interest equivalent to 5% per annum of the principal of the damage until February 24, 2016; the victims did not want to be punished; the terms and conditions of the contract with the victims do not wish to be agreed upon; the defendant's representative director transferred a loan claim amounting to KRW 243,00,000 to the Federation of D, KRW 539,800 in original repayment; the victim F, KRW 57,828,208 in original repayment; the defendant's transfer of the claim amount to the victims; the defendant's transfer or takeover of the claim amount was unfair.