2. It is recognized that: (a) the Defendant could not obtain a claim that the Defendant lent to a third party; (b) the Defendant invested in shares to meet that claim, resulting in the instant case; and (c) the Defendant appears to have suffered from pain, such as depression and fluence, etc.; (d) the Defendant did not consume or hold the amount of the instant embezzlement; and (e) the Defendant was the primary offender.

However, the amount of the embezzlement of this case is very large in amount to KRW 450 million, and the victim's punishment was sought and the damage was not completely recovered. In full view of the circumstances leading up to the crime of this case, circumstances after the crime of this case, the defendant's age, character and environment, etc., the court below's punishment is too unreasonable, and the defendant's above assertion is without merit.

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