2. In light of the circumstances favorable to the Defendant, the lower court determined a punishment against the Defendant by taking account of the following: (a) the facts favorable to the Defendant: (b) all of the instant crimes were recognized; (c) the victims’ mistake was against themselves; (d) the victims were returned to the victims under the pretext of interest, etc.; and (e) the Defendant was not subject to any criminal punishment other than once fine; (c) the Defendant, under unfavorable circumstances; (d) the Defendant, “the mother who conducts corporate bonds business, may be able to pay a high interest if he makes an investment” to the victims; and (e) the Defendant, on a long-term basis, obtained the total amount of KRW 1.6897 million from 14 victims to 133 times; (e) the Defendant was victimized by multiple victims due to the Defendant’s criminal act; and (e) the

As above, there is no special change in circumstances that may otherwise evaluate the sentencing conditions of the court below in the appellate court in favor of or unfavorable to the defendant (it is difficult to see that the sentencing of the court below is unfair even if the defendant paid the victims the total of KRW 285 million as part of the principal in addition to the amount paid as interest as interest, it is nothing more than the situation that existed at the time of the judgment of the court below, and considering this, it is difficult to see that the sentencing of the court below is unfair).

Therefore, the defendant's above assertion is without merit.

3. The defendant's appeal is dismissed on the ground that it is without merit.