I believe his participation in fraud should have repercussions, but I hardly feel like caging him up for 7 years is "justice". I'm not saying I know what the perfect justice would be, but I think it should be closer to restitution to those he harmed, rather than just punishment.
Ultimately, I think incarceration is a savage practice, and I hope for the day we're able to deliver justice without resorting to locking someone up. I think humanity will eventually look back at our practice of mass incarceration as quite primitive.