The defendant's appeal is dismissed.

1. The defendant asserts that the defendant's improper argument of sentencing is unfair because the court below's punishment is too large.

2. The judgment of the defendant was given a considerable amount of money to guarantee the principal and the promise to pay profits through investment in financial products, but it was not actually made an investment profit, and the amount of investment money received from other victims continues to increase the scale of damage for a long time in the manner of paying profits to the victims or paying investments from other victims to other victims, which eventually led to large-scale fraud. In addition, the victims suffered serious economic depression due to the defendant's crime, and even if the victims continued to be punished, it is inevitable to severely punish the defendant.

However, the fact that the defendant led to the confession of the crime, there is no other criminal history other than a fine once, and that some victims expressed their intention not to be punished by the defendant in this court, and that considerable of the investment funds received from the victims are re-paid in the form of profits to the victims and the economic benefits actually earned by re-payment in the form of profits to the victims are less than the scale of the damage, etc. is considered for

When taking into account such circumstances as the Defendant’s age, sex, environment, circumstances, and circumstances after the crime, etc., even considering the favorable circumstances for the Defendant, it cannot be deemed unfair to the extent that the sentence imposed by the lower court is too unreasonable.

The defendant's assertion is rejected.

3. Conclusion, the defendant's appeal is dismissed for lack of grounds.