All appeals are dismissed.

The grounds of appeal are examined.

1. As to the grounds of appeal by the defendant, the argument that the court below erred in infringing on the essential contents of the principle of balance of punishment or the principle of responsibility in the determination of sentencing constitutes an unfair argument in sentencing.

Therefore, under Article 383 subparagraph 4 of the Criminal Procedure Act, only in cases where death penalty, life imprisonment, or imprisonment with or without prison labor for more than ten years has been imposed, an appeal is permitted for the wrongful grounds for sentencing. As such, the argument that the determination of a sentence is unfair is not a legitimate ground for appeal in this case where a minor sentence has been imposed against the defendant.

2. Examining the reasoning of the judgment of the court below in light of the records, it is just to maintain the judgment of the court of first instance which acquitted victims of violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud) against victim D among the facts charged in the instant case on the grounds stated in its reasoning. Contrary to the allegations in the grounds of appeal, the court below did not err by failing to exhaust all necessary deliberations and exceeding the bounds of the principle of free evaluation by violating logical and empirical rules.

3. Therefore, all appeals are dismissed. It is so decided as per Disposition by the assent of all participating Justices on the bench.