All appeals filed by the defendant and prosecutor are dismissed.

1. Summary of grounds for appeal;

A. The sentence of the lower court (three years of imprisonment) is too unreasonable.

B. The Prosecutor’s sentence of the lower court is too unhued and unreasonable.

2. The judgment is based on the following facts: (a) the Defendant committed each of the crimes of this case, which is against the depth of the mistake; (b) the criminal punishment is the first offender who has not been imposed any monetary punishment; (c) the victim was absent from speculative transactions on stocks and derivatives; and (d) it seems that most of his/her own property was neglected; (b) it appears that he/she paid a considerable amount of money to the victims under the pretext of return of principal or payment of interest or profit dividends during the crime period; and (c) the victims would also have been aware of the fact that the Defendant invested in stocks, etc. at risk of loss of principal, etc.; and (d) it appears that he/she would have been fully responsible for the occurrence and expansion of loss due to the Defendant

However, in full view of all the sentencing conditions specified in the records and arguments of this case, including the defendant's age, character and conduct, environment, motive, means and consequence of each of the crimes of this case, etc., the sentence imposed by the court below is deemed appropriate, and it is not deemed unfair because the sentence imposed by the defendant is too heavy or too unreasonable since it is too excessive, since the defendant's and prosecutor's allegation of unfair sentencing is without merit.

3. In conclusion, the appeal filed by the defendant and the prosecutor is without merit, and all of them are in accordance with Article 364(4) of the Criminal Procedure Act.