All appeals by the defendant and the prosecutor are dismissed.

1. Summary of grounds for appeal;

A. The sentence of the lower court (two years of imprisonment, confiscation) is too unreasonable.

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

2. We also examine the arguments of the Defendant and the Prosecutor.

The fact that the defendant recognized all of his criminal acts, the record of criminal punishment in Korea is not confirmed, and the fact that the criminal act of fraud of this case, which the defendant directly participated, is about the attempted crime, is favorable to the defendant.

Meanwhile, the crime of this case is a so-called " Bosing," which is committed in a systematic, planned, and intelligent manner against many unspecified victims, and the nature of the crime is considerably poor, and it is inevitable to severely punish subordinate participants, such as collection and delivery measures because the social harm of the crime is very high, and the defendant was actively involved in the crime of this case, such as misrepresenting the employees of the Financial Supervisory Service, and exercising forged official documents, etc.

As above, in full view of the factors of sentencing as seen in the records and arguments of this case, such as the Defendant’s favorable and unfavorable circumstances, the Defendant’s age, sex, environment, family relationship, motive and circumstance of the crime, etc., and the circumstances after the crime, the lower court’s punishment was too heavy or it exceeded the discretionary scope.

Therefore, the defendant and the prosecutor's assertion are without merit.

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