The defendant's appeal is dismissed.

1. The sentence imposed by the lower court (two years of imprisonment) on the summary of the grounds for appeal is too unreasonable.

2. The judgment of the defendant recognized the crime of this case and divided the defendant's mistake in depth, the defendant's family and supporters wished to have a preference against the defendant, there is no record of punishment exceeding the fine, and the defendant contributed KRW 19.5 million to the scholarship foundation in the trial of the defendant.

However, the crime of this case was committed by opening an illegal private futures market site for profits under the pretext of trading fees, and multiple accomplices including the Defendant committed very systematic and professionally and professionally. The period of the crime is long and the size of trading exceeds KRW 100 billion, and the crime of this case is very heavy in light of the fact that the Defendant led the crime of this case.

In particular, such a crime causes the risk of undermining the fairness and reliability of the capital market and creating the risk of not protecting investors in a stable manner, and there is a significant negative impact on the capital market.

Although the Defendant asserts that the actual profits acquired through the instant crime do not reach the amount of gains indicated in the facts charged, the actual profits alleged by the Defendant do not reach the amount of profit.

In full view of other circumstances that form the conditions for sentencing as shown in the record, such as the Defendant’s age, sex, environment, motive leading to the commission of the crime, and circumstances after the commission of the crime, the sentence imposed by the lower court is too unreasonable.

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. It is so decided as per Disposition.