The judgment below

Part concerning Defendant A and D shall be reversed, respectively.

Defendant

A Imprisonment of one year and two months and fine of 30 million won.

1. Summary of the grounds for appeal (e.g., both types);

A. The punishment of Defendant A (a year and six months of imprisonment, a fine of 30 million won, and an additional collection) by the lower court is too unreasonable.

B. Defendant B’s imprisonment (a year of imprisonment, a fine of KRW 30 million, and an additional collection) is too unreasonable.

C. Defendant C’s imprisonment (a year of imprisonment, a fine of KRW 30 million, and an additional collection) is too unreasonable.

Defendant

D The punishment of the lower court (six months of imprisonment, two years of suspended execution) is too unreasonable.

2. Determination

A. The Defendant’s violation of the Financial Investment Services and Capital Markets Act among the instant crimes committed by Defendant A regarding the grounds for appeal is a highly harmful crime that may cause serious social consequences, such as undermining the fairness and reliability of the capital market and failing to properly protect investors.

In addition, the fact that the Defendant committed the instant crime systematically for a considerable period, the scale of futures trading conducted on the website of the Defendant, and the conduct of futures trading, such as the instant crime, requires strict regulation. The Defendant’s instant crime requires strict punishment as an act of evading such regulation and promoting speculation, and that the Defendant’s profit gained through the instant crime is considerably large. In particular, during the instant crime, the Defendant committed a crime of violating the Electronic Financial Transactions Act, Regulation and Punishment of Criminal Proceeds Concealment, etc. by the acquisition of the means of access, in particular, the Defendant additionally committed a violation of the Act on the Regulation and Punishment of Criminal Proceeds Concealment.

However, the Defendant recognized all of the crimes of this case and reflects his mistake in depth, find out the mother and foreign nationality responsible for supporting the Defendant, keep the former father's son's son's son's son's son's son's son's son's son's son's son's son's son's son'