The defense points of futures fraud case are: the subject does not meet the constitutive requirements of fraud, and the subjective aspect does not meet the constitutive requirements of fraud. (1) Irregular performance of the contract is not equal to the crime of fraud. We should focus on the reasons why the actor fails to perform the contract and his attitude towards the debts incurred. Although the actor does not perform the contract, but admits the debt and actively performs or creates performance, it can rule out his subjective illegal possession purpose. (2) There is a legal creditor-debtor relationship between the actor and the "victim", and the actor defrauded the property by deception in order to offset the creditor's rights, so it cannot be considered that it has the subjective purpose of "illegal possession". (3) If the actor has real repayment behavior, has repayment ability, and does not have behaviors such as hiding or hiding property, it cannot be regarded as his subjective illegal possession purpose. (4) There is a civil dispute between the actor and the counterpart, and the actor takes improper means to seize other people's property to realize his rights. This kind of behavior is improper, and may even be suspected of other crimes, but it cannot be used to determine the purpose of the perpetrator's illegal possession of property. (5) The difference between private lending disputes, private fraud and fraud is the key to distinguish crime from non-crime, that is, the actor has no subjective purpose of illegal possession.