All appeals filed by the defendant and prosecutor are dismissed.

The defendant pays KRW 1,710,000 to an applicant for compensation.

1. Summary of grounds for appeal;

A. As to the fraud during the crime of mistake of facts, Defendant (1) committed several times since 2009 at the time of the original judgment on the charge of mistake of facts, Defendant paid a forged bill to the victims and received a discounted payment, and the so-called “recovering of a bill” which provided a new forged bill and recovered a forged bill, and all of the discounted bills received from the victims were paid to the victims as a bill or interest, so the victims did not incur losses, and there was no intent to receive money from the victims. However, the lower court accepted this part of the facts charged and sentenced the Defendant guilty. In so doing, the lower court erred by misapprehending the facts and adversely affecting the conclusion of the judgment.

(2) The sentence of imprisonment (six years of imprisonment) imposed by the lower court is too unreasonable.

B. In the case of the prosecutor (1) misunderstanding of facts or misunderstanding of legal principles in the facts charged in this case, the Defendant’s purchase of forged securities from a person who was unaware of his name through E and completed the forged bill with the date of payment on the column of the official blank payment constitutes the act of forgery as a whole, and even if only the act entered in the date of payment falls under the act of forgery, the act itself constitutes the act of forgery. However, the judgment of the court below which acquitted the Defendant on

(2) The sentence of imprisonment (six years of imprisonment) imposed by the lower court is too uneasible and unfair.

2. Determination

A. As to the Defendant’s assertion of mistake of facts, the lower court commences a transaction in which the Defendant, from around the mid-1990 to the mid-205, continues to engage in the brokerage transaction in which the victims and the discount payment was made, and the financial situation has gradually aggravated from the mid-2005, to pay the discount amount with the discount amount received.