The defendant's appeal is dismissed.

1. The decision of the court below on the gist of the grounds for appeal (two years of imprisonment) is too unreasonable.

2. The fact that the victim is a majority of the victims, the sum of the amount acquired by deception exceeds 90 million won, the part of the amount actually used for stock investment among the amount received as a stock investment bond even if the defendant's statement is made, and most of them was used for living expenses or repayment of existing debts, etc., which has been punished eight times due to fraud, and in particular, each of the crimes of this case has been committed at the same time during the repeated crime period due to fraud, and the damage was not recovered at all, and there was no change in sentencing conditions compared with the original judgment; sentencing guidelines (one year to three years and nine months) [the type of punishment] [the sentencing guidelines] [special sentencing factors] - Where multiple victims are committed or committed repeatedly for a considerable period of time: the same type of repeated crime [decision in the sphere of recommendation] - The scope of imprisonment with prison labor for one year to nine years and nine years has exceeded the reasonable personal discretion] of the lower court.

shall not be deemed to exist.

3. The defendant's appeal is dismissed in accordance with Article 364 (4) of the Criminal Procedure Act on the grounds that the defendant's appeal is without merit.