The defendant's appeal is dismissed.

1. The gist of the grounds for appeal is that of the lower court’s punishment (three years of imprisonment and confiscation) is too unreasonable.

2. The judgment of the Defendant was only 20 years old at the time of the instant crime, and was the first offender, and the mistake was recognized, and there was an agreement with eight victims at the trial stage, and it is necessary to take into account the circumstances favorable to the fact that three of the victims and the additional agreement was made at the trial stage.

However, the crime of this case was committed in a systematic and specialized manner by sharing a thorough role from the beginning for the purpose of fraud, and it was committed by inducing many unspecified persons to a false stock transaction site and actively defrauds them with money, and the nature of the crime and the method are very poor.

피고인은 공범자들의 범행 시작 이후 중도에 가담하기는 하였으나, 대부분의 공범자들이 뿔뿔이 흩어진 후에도 오히려 공범자 중 1인과 함께 생활하며 둘이서 범행을 저질렀고, 몇 개월 후 다른 친밀한 공범자들의 사무실로 옮겨 범행을 계속하는 등, 위법행위에 대한 아무런 거리낌 없이 적극적으로 범행을 이어나갔다.

In addition, the amount of damage to the crime of this case is large to exceed KRW 970,000,000, and the amount of profit that the defendant acquired is deemed to have not been much, and only 11 persons agreed with the defendant among the victims of total 41 persons.

Even if the above 41 victims directly belong to the defendant's investment inducement, the victim is merely a minority.

Even if the whole structure of the crime is fully recognized, the defendant cannot be exempted from liability for the total amount of damage considering the role of the defendant who actively posted false advertisements for many unspecified people and has induced investment.

In addition, the records and arguments of this case, such as the defendant's age, career, environment, character and conduct, motive, background, means and consequence of the crime, and circumstances after the crime, are revealed.