2. The circumstances are favorable to the defendant, such as the fact that the defendant led to the confession of all of the crimes of this case and appears to repent of his mistake, that the defendant actually paid interest to the victims of the fraud, and that the victims of the fraud appear to have delivered money without any special security requirement for the purpose of speculation in order to receive high interest.

However, according to the sentencing guidelines, the crime of fraud of this case is committed by three victims, and the total amount of damage is up to 1.1 billion won, and thus, the quality of the crime is not very good, the victims did not reach an agreement or recover from damage to the trial, and according to the sentencing guidelines, as the defendant falls under the basic area in the case of the defendant, and the recommended punishment is for not less than three years and not more than six years and not more than six months, and the court below seems to have sentenced the lowest punishment out of the recommended punishment, taking full account of the circumstances favorable to the defendant, and there is no change of circumstances that could vary between the court below and the punishment in the case of the defendant, and there is no other change of circumstances that make it possible to change the defendant's age, character and behavior, motive and circumstances after the crime of this case, etc., the court below'

Therefore, the defendant's assertion is without merit.

3. The defendant's appeal is dismissed in accordance with Article 364 (4) of the Criminal Procedure Act, since the defendant's appeal is without merit. It is so decided as per Disposition.