2. The judgment of the Defendant was made in the first instance, and all of the instant crimes were recognized, and the Defendant recognized his mistake, and the Defendant is the primary offender who had no specific criminal record prior to the instant crime, etc. favorable to the Defendant.

On the other hand, most of the damages caused by each of the instant frauds have not been recovered, the Defendant did not reach an agreement with the victims, and the Defendant’s fraudulent conduct against the victim G among each of the instant crimes was additionally committed after the Defendant’s option investment has been realized, and the liability for such crime is not good.

Considering the above circumstances and other circumstances, such as the Defendant’s age, sexual conduct, family relationship, family environment, motive and means of committing a crime, and circumstances after committing a crime, the lower court’s punishment is deemed appropriate as a punishment within the scope of discretion for sentencing.

Therefore, the defendant's assertion is without merit.

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