2. In full view of the following circumstances: (a) the Defendant was the first offender and the Defendant was led to the first offense; (b) the fact that the lower court agreed with the victim H is recognized as favorable to the Defendant; (c) the Defendant acquired money for a long time by means of trust relationship with the victims; (d) the amount of defraudation exceeds a total of 200 million won; (e) the degree of recovery of damage is very insufficient; and (e) the victim C did not reach an agreement with the victim; and (e) other various circumstances, which are the conditions for sentencing as indicated in the record, such as the Defendant’s age, sex and environment, motive, means and consequence of the crime; and (e) the circumstances after the crime, etc., the lower

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