The defendant's appeal is dismissed.

1. In light of all the circumstances, including the fact that the defendant is against whom the summary of the grounds for appeal (e.g., imprisonment with labor for eight months) is against the defendant, the punishment sentenced by the court below is too unreasonable.

2. It is recognized that the decision-making defendant shows the appearance of acknowledging and opposing the crime of this case.

However, the crime of this case is committed by the defendant after being obtained from the victim D (the age of 55) under the name of borrowed money without the intent or ability to repay the amount when he/she conducts the corporate bonds business as if he/she was in the naval age. The crime of this case is committed by taking into account all the circumstances that are the conditions of the sentencing of this case as shown in the records, such as the defendant's age, character, environment, motive and circumstance leading up to the crime of this case, and circumstances before and after the crime, since there is no self-sufficiency, it is not good to commit the crime of this case. Even though there was a considerable time from the date of the crime of this case, the defendant did not make every effort to recover damage, such as deposit of money or horse, etc., even though he/she had not been used for the crime of this case, three times of punishment, probation, one time of fine, and one time of punishment for the same crime of this case, since the court below's punishment is proper and too unreasonable.

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.