All appeals by the Defendants are dismissed.

1. The summary of the grounds for appeal (the defendant A: imprisonment of one year and six months and the surcharge of 84,521,920 won, the defendant B and C: Imprisonment of one year and one additional surcharge of one year, and one additional surcharge of 84,521,920 won, the defendant D: Imprisonment of six months, a suspended sentence of two years, a surcharge of 15,00,000 won) are too unreasonable; and

2. Determination:

A. Defendant A, B, and C are under the view of and against the instant crime, and all of the Defendants have family members to support, etc. are favorable circumstances to the Defendants.

However, the Defendants conspired to operate the private horse site from November 2013 to April 2014, and received a total of KRW 5,948,085,00 from the members of the private horse with a total of KRW 2,621 times, and paid dividends or game money to the above members. The instant crime caused serious social harm, such as encouraging the general public to commit an excessive speculative spirit, impairing the awareness of sound labor, thereby causing the failure of the economy and family life of the general public, and causing severe punishment of the participants in the instant crime. In light of the circumstances and contents leading up to the instant crime, organized, and detailed criminal acts, and the number of criminal acts, etc., which were revealed in the records and arguments, the Defendants committed a very poor crime. In particular, Defendant A took charge of the operation and management of the above private horse site, and Defendant A, who took charge of the said crime, transferred dividends to the members of the Korean Racing Association, or was in charge of management of the said funds. As such, Defendant A’s considerable amount of criminal punishment was not provided.