All appeals filed by A, B and prosecutor are dismissed.

A. Each sentence (Defendant A: Imprisonment with prison labor for 1 year, Defendant B: fine of 2.5 million won) sentenced by the lower court is too unreasonable.

B. Each sentence sentenced by the lower court to Defendant A and D (one year of imprisonment, and two years of suspended execution of five months of imprisonment) is too unfasible and unfair.

2. It is recognized that Defendant A, B, and prosecutor’s respective unfair arguments on sentencing together with each of the following facts: (a) the crime of this case is committed by continuously soliciting investors in a state without any particular profit-making structure; (b) the structure in which many victims need to be recovered and the victims need to be recovered in order to recover their damage; (c) there is a need to severely punish the society; (d) Defendant A has been sentenced to a fine for a total period of time due to fraud and embezzlement, etc.; (d) there is a history that Defendant A has been punished for the same kind of crime; and (e) Defendant D has committed the crime of this case while undergoing the same investigation.

However, considering the fact that the Defendants made a confession of all the crimes, and there is no record of punishment for the same crime and there is no record of punishment heavier than a fine, the role and degree of participation of the Defendants, the amount of investment money recruited by the Defendants, the size of the Defendants’ age, sexual conduct, environment, motive, means and consequence of each of the instant crimes, and all of the sentencing conditions stated in the pleadings of the instant case, such as the circumstances after the crime, etc., the sentence imposed by the court below on the Defendant A cannot be deemed to be appropriate, too heavy, too heavy, or too excessive, and it is not deemed unfair because the punishment imposed on the Defendant B is too heavy, or the punishment imposed on the Defendant D is too uneased.

Therefore, each of the defendant A, B and prosecutor's arguments is without merit.