2. According to the records, the defendant received approximately KRW 32.2 billion in total from unspecified persons with a long-term period of more than 500,000,000,000 won out of the above amount, and approximately KRW 2.488 billion has not yet been refunded, and the actual value of the real estate that the defendant purchased with the investment deposit is merely about KRW 10 billion,00,000,000 which is insufficient to secure the above unclaimed investment, and the defendant continues to receive the same amount of imprisonment after the suspension of execution of sentence was sentenced to imprisonment due to the crime of violation of the Act on the Control of Narcotics, etc., and the act of receiving the same in this case was conducted by the so-called "multi-level" method, which allows new investors to attract new investors, and the defendant paid part of the investment deposit to investors as activity expenses, and the defendant raised a collateral on the real estate purchased with the investment deposit to guarantee the investment deposit to investors, and thereby actually raised the investment deposit to some investors, and the sum of the maximum debt amount exceeds the above actual maximum debt amount.

In light of the above size, period, and method of crime, etc., even though a considerable number of investors in the instant case want to take the Defendant’s preference, it cannot be said that the lower court’s punishment should be reversed, and it is unreasonable to the extent that the Defendant’s punishment should be reversed.

3. Accordingly, the appeal of this case is dismissed in accordance with Article 364(4) of the Criminal Procedure Act. It is so decided as per Disposition.