The judgment of the court below is reversed.

A defendant shall be punished by imprisonment for not less than two years and six months.

1. The decision of the court below on the gist of the reasons for appeal (the imprisonment of 3 years and 6 months) is too unreasonable.

2. In light of the fact that a multiple number of victims are committed on a planned and organized basis, and the nature of the crime is inferior, and there is serious harm to the victims and society, as well as the role of the Defendant’s handbook and the delivery responsibility is essential for the realization of criminal benefits, and thus, the responsibility is not somewhat weak; the Defendant participated in the crime for a considerable period of time; the damage amount is considerably larger than KRW 260,000; and the relevant several laws are inadequate, such as forgery and uttering of official documents, etc. for the crime of fraud, it is necessary to strictly punish the Defendant.

However, the court below's punishment is somewhat unreasonable when considering various circumstances, such as the defendant's age, sex, family environment (Divorce, two children), and criminal records, which are conditions for sentencing, are taken into account, such as the fact that the defendant committed a part of the crime that he denied in the court below, the defendant agreed with four of the victims (E, AC, AF, and AE), repayment of one million won to one of the victims, etc., and the defendant made efforts to recover from damage. The court below's decision should be made simultaneously with the criminal records in the judgment of the court below which became final and conclusive by a sentence of one year, and the equity in punishment should be taken into account. The defendant has no particular criminal records except for the punishment of a fine imposed once for the crime of this paper, and the defendant has no other criminal records except for the punishment of a fine imposed once for the crime of this paper.

3. As the appeal by the defendant is well-grounded, the judgment of the court below shall be reversed in accordance with Article 364(6) of the Criminal Procedure Act, and the judgment shall be rendered again after pleading as follows.

[Grounds for the new judgment] The criminal facts and summary of the evidence recognized by the court and the summary of the evidence are the same as the stated in each corresponding column of the judgment below, and thus, they are cited in accordance with Article 369 of the Criminal Procedure Act.