All appeals by the Defendants are dismissed.

1. The gist of the grounds for appeal is that the lower court’s punishment (the amount of KRW 10 million for Defendant B, A, and C, and each fine of KRW 7 million for Defendant D and E) is too unreasonable.

2. It is desirable to refrain from rendering a sentence that does not change the conditions of sentencing compared with the first instance court, and where the sentencing of the first instance court does not deviate from the reasonable scope of discretion, it is reasonable to respect it. Although the sentence of the first instance court falls within the reasonable scope of discretion, it is reasonable to refrain from rendering a sentence that does not vary with the first instance court (Supreme Court Decision 2015Do3260 Decided July 23, 2015) by destroying the first instance judgment on the sole basis of the difference between the view of the appellate court and the opinion of the appellate court (Supreme Court Decision 2015Do3260 Decided July 23, 2015). In accordance with the foregoing legal doctrine, there is no change in the sentencing conditions compared with the lower court (Defendant A and Defendant B submitted materials agreed with some victims (the victim and Defendant B agreed with the victim and the victim 26) but in light of the fact that the number of victims of the instant case reaches approximately 300 persons.

In light of all the reasons for sentencing as stated by the court below, the sentencing of the court below is not recognized to have exceeded the reasonable scope of discretion because the sentencing of the court below is too large.

3. In conclusion, the Defendants’ appeal is dismissed in accordance with Article 364(4) of the Criminal Procedure Act, since all of the appeals by the Defendants are without merit. It is so decided as per Disposition.