The judgment of the court below is reversed.

A defendant shall be punished by imprisonment for three years.

However, for five years from the date this judgment becomes final and conclusive.

1. The summary of the grounds for appeal: The Defendant explicitly withdraws the assertion of mistake of facts and misapprehension of legal principles on the second trial date of the appeal.

The punishment sentenced by the court below (four years of imprisonment) is too unreasonable.

2. The crime of this case is deemed to have been committed in light of the amount of damage, the circumstance and method of committing the crime, etc., since it is false that the defendant could guarantee the return of the invested principal to the victims who were known to the general public, and that 5% of the invested principal can be paid as profits each month, and it is not appropriate to commit the crime in light of the amount of damage, the circumstance and method of committing the crime, etc.

The victims seem to have suffered considerable economic difficulties and mental suffering due to the crime of this case, and in particular, victims D have not yet recovered from the damage.

However, the defendant recognized all of the crimes of this case and repented his mistake in the truth.

When the defendant was in the first instance, he made a serious effort for the recovery of the victims' damage, and as a result, the victims and the victims do not want punishment for the defendant.

Since the defendant has returned or paid part of the funds received from the victims to the victims as principal or profit, it seems that the actual amount of damage is less than the amount of fraud.

The victims who believe the defendant's speech that they will give high profits in a short period and have paid the investment funds in a timely manner are also responsible for the occurrence and expansion of damage.

There is no criminal record exceeding a fine, and there is no record of punishment for the same crime.

In full view of all the factors of sentencing, including the defendant's age, character and conduct, environment, family relationship, motive and circumstance after the crime, etc., the sentence imposed by the court below is too unreasonable.