The defendant's appeal is dismissed.

1. The sentence of the court below with the summary of the grounds for appeal is too heavy;

2. The judgment of the defendant is the primary offender, the fact that the defendant agreed with E among the victims, and the defendant does not seem to have committed the fraud of this case in a planned manner, and the defendant's lack of business experience and rapid increase in the amount due to the global economic crisis are the factors of sentencing favorable to the defendant.

However, even though the amount acquired by the defendant reaches 10 million won in total, considerable damage has not yet been recovered, the defendant has been living for escape from February 2009, and there is no changed situation after the judgment of the court below is an element of sentencing disadvantageous to the defendant.

In addition, considering the overall sentencing factors prescribed by Article 51 of the Criminal Act, such as the defendant's age, character and conduct, family relationship, it cannot be said that the sentence of the court below is 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.