All appeals by the defendant and the prosecutor are dismissed.

1. Summary of grounds for appeal;

A. In light of the fact that the Defendant’s mistake against himself and the Defendant’s recovery of damage, the sentence of the lower court (two years and six months of imprisonment) is too unreasonable.

B. In light of the method of committing the crime by the prosecutor, the number of victims, and the amount of damage, the sentence of the court below is too uneasible and unfair.

2. It is large that the amount acquired by the Defendant is 479 million won or less, and that the Defendant committed each of the crimes of this case against many victims, and the damage therefrom has not been recovered, and that the Defendant, by misrepresenting the N team leader of the Matz finance, presented high-rate profits, solicited the victims to make an investment, and forged and implement an investment confirmation document in order to know the victims who were accused.

On the other hand, the defendant appears to have the attitude of recognizing and opposing his mistake, and the fact that each of the crimes of this case can have been tried together with fraud, etc. which became final and conclusive is favorable to the defendant.

In full view of the above circumstances and the sentencing conditions of the Defendant’s age, sex, environment, method of crime, and circumstances after the crime, etc., the sentence imposed by the lower court is deemed appropriate, and is too heavy, or it cannot be deemed unfair because it is too low.

3. The appeal of this case by the defendant and the prosecutor is without merit, and all of them are dismissed in accordance with Article 364(4) of the Criminal Procedure Act.