The defendant's appeal is dismissed.

1. Summary of grounds for appeal;

A. The judgment of the court below that found the defendant guilty by deceiving victims as it borrowed the above money by receiving interest from the victims, etc., but it was erroneous in the misapprehension of the legal principle which affected the conclusion of the judgment by misunderstanding the facts.

B. The lower court’s imprisonment (two years of imprisonment) against the Defendant is too unreasonable.

2. Determination

A. The following circumstances revealed through evidence duly adopted and investigated in the court below's erroneous determination of facts: (i) in light of the relationship between the defendant and the victims merely known through Internet car page, the victims seems to have no reason to lend a total of KRW 314 million to the defendant without any return on investment, etc. as stated in the facts charged; (ii) the defendant bears a loan obligation equivalent to KRW 53 million at the time of the instant case; (iii) there was no special asset or income; (iv) even if he received money from the victims as borrowed money, he did not actually have the ability to repay it; and (iii) the defendant was not engaged in the bond business at the time and did not have a relationship with the bond business operator, and thus, he could not receive money from the victims to make investments in the bonds, and (iv) the defendant received money as the source of credit investment, and used it as living expenses and entertainment expenses, etc." (in full view of the circumstances alleged in the facts charged by the defendant, the court below is justified and there is no error in the misapprehension of facts.

B. The defendant denies the crime of this case and does not repent his mistake, and the defendant provided entertainment expenses to the victims.