The defendant's appeal is dismissed.

1. Summary of grounds for appeal;

A. As to the fraud against the victim M, Co-Defendant A of the lower judgment that received an investment from the victim is Co-Defendant A of the lower judgment, and only the Defendant used the funds that A had received from the victim for the purpose of using them for the legal entity. There is no fact that the Defendant deceivings the victim. 2) As to the fraud against the victim R, the Defendant was able to transfer his/her ownership as agreed with the victim, and the victim attempted to transfer his/her ownership to the victim, but the victim refused to receive it while demanding two commercial loans.

The defendant has no fact of deceiving the victim at the time of borrowing money from the victim.

3) As to the fraud against the victim W, the Defendant only lent the name of Y to AJ, and the Defendant did not deceiving the victim. 4) With respect to the fraud against the victim AA, it was merely a part of the Defendant’s deception by stating that the victim was in an apartment building of 60 square meters in order to show that the victim was sufficiently capable, but this did not mean that the victim was in possession of the 60 square meters apartment house, and it was merely an expression of the degree that the victim was sufficiently capable of financing money.

5) Nevertheless, the lower court found the Defendant guilty on each of the facts charged in this case by misunderstanding the facts or misapprehending the legal doctrine. B. The lower court’s sentence against the Defendant claiming unfair sentencing (the Defendant’s imprisonment is too unreasonable for October).

2. Determination

A. According to the evidence duly adopted and examined by the court below on the assertion of mistake of facts or misapprehension of legal principles, the court below can sufficiently recognize the circumstances as stated in the "determination on the points of dispute" part of the judgment, and in full view of these circumstances, the court below can fully recognize each criminal fact in the judgment of the court below on the fraud of victims M, W, and AA, and recognized by the court below.