Defendant

A Imprisonment for six months, for four months, for four months, and for four months, for four months, for each of the defendants C.

except that this shall not apply.

Punishment of the crime

D refers to a "professional investor in foreign exchange transactions" without a certain occupation, and it is an individual investor that invests in the FXE transactions by inviting investment from investors and investing in the securities exchange and overseas currency futures trading.

No person shall engage in a business of raising funds from many and unspecified persons without obtaining authorization, permission, registration, reporting, etc. pursuant to relevant Acts and subordinate statutes, with the agreement to pay the total amount of investments or an amount in excess thereof in the future, and receive contributions, etc. without delay.

The FXM transactions are foreign exchange transactions outside the country in which the direct exchange rate fluctuations between individuals settle profits and losses depending on exchange rate fluctuations. The overseas currency futures trading is traded through E (E), which is an overseas futures product whose underlying asset is the exchange rate of emulation and US US US US US dollars, and even if all the above two transactions are likely to change the price and are accompanied by the risk of exchange rate fluctuations, there is a high speculation high level as it is possible to make transactions only with small deposits, and there is a high risk of principal losses.

Therefore, D is not able to continuously guarantee the agreed high-rate profit to investors, and the principal and interest to be granted to senior investors can not be used for profit-making business or surplus funds, which are able to finally pay the investment principal, and thus, it is clearly anticipated that the Defendant would not pay the agreed high-rate profit unless a new investor is confined.

Nevertheless, D has not filed a registration report without obtaining authorization or permission under the relevant laws and regulations, and "inwards against many and unspecified investors" are the scale or yield of the operating amount among the individual investors in domestic foreign exchange transactions.