Defendant

A Imprisonment with prison labor of four years and six months, each of the defendants B and C shall be punished by imprisonment with prison labor of ten months.

A. Defendant A’s imprisonment (five years of imprisonment) is too unreasonable.

B. Defendant B and C (1) misunderstanding of facts was believed to be able to divide profits to investors through the collection of non-performing loans and investment in real estate, and there was no intent to obtain fraud against the said Defendants since they have invested considerable money in themselves. The complainants, like the above Defendants, knew that they would have repaid the interest of senior investors to subordinated investors E with the investment funds of subordinated investors, and do not constitute a victim deceiving the said Defendants.

(2) Even if the facts charged of unfair sentencing are found guilty, each sentence of the lower court (one year of imprisonment) is too unreasonable.

2. Before the judgment on the grounds for appeal by the Defendants ex officio, the court below sentenced the Defendant A to confiscate evidence 1 through 6, but omitted the "Article 48 (1) 1 of the Criminal Act", which is the applicable provision of the above confiscation punishment, in the reasoning of the judgment of the court below, and thus, there was an error of law in conflict with the reasoning of the judgment of the court below and the order were affected by the judgment of the court below, and such an error of law was affected by the judgment of the court below. In this regard, the part of the judgment of the court below against the Defendant A was no longer maintained.

3. Judgment on the mistake of facts by Defendant B and C

A. In full view of the following facts and circumstances acknowledged by the evidence duly adopted and investigated by the lower court as to whether Defendant B and C believed that the payment of dividends and investment funds promised to the victims was possible, Defendant B and C shall pay 2.5% dividends each month as agreed to investors through non-performing loans and real estate investment, and return the principal after three months.