The Defendants’ appeal is dismissed.

1. Summary of grounds for appeal;

A. misunderstanding of facts and misunderstanding of legal principles 1) Defendants merely joined a private futures trading site and engaged in actual futures trading, and did not engage in gambling by making virtual investments in futures, and even if not, they did not have any criminal intent for gambling, since the operator of a private futures trading site knew that he/she actually engaged in actual futures trading using a securities account in another person’s name. Rather, inasmuch as the operator, etc. of a private futures trading site misleads members including the Defendants, thereby allowing them to install a program and intentionally compensate for losses in order to distribute profits as a loss, the Defendants are only liable for fraud and the Defendants do not commit gambling as they lack in friendlyness.

B. The lower court’s sentence of unreasonable sentencing (Defendant B’s fine of KRW 5 million, Defendant C’s fine of KRW 3 million) is too unreasonable.

2. Determination

A. The following circumstances acknowledged by the evidence duly adopted and investigated by the court below as to the assertion of mistake of facts and misapprehension of legal principles, namely, ① some of the members of the member's private futures trading sites, based on the investment tendency, shall collect commission fees by making them conduct futures trading using a lending security account, and the remainder is operated by the methods of acquiring the operators, etc. of the members' losses by having them conduct virtual futures trading in connection with the FOSP 200, basin, oil, gold, U.S. stock exchange index; ② the operators, etc. of private futures trading sites such as E, etc. classified the Defendants as "one member"; ② the Defendants paid profits to the Defendants at the company's expense or received losses from the Defendant upon the increase or decrease of the pertinent index (the operation method under the above paragraph (1) falls under the latter); and ③ E, etc. as the crime of violation of the Financial Investment Services and Capital Markets Act and the establishment of a gambling space under the said Act.