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    The Supreme Court Has Issued Judicial Interpretations To Severely Punish Illegal Fund-Raising

    2011/1/5 9:30:00 48

    Judicial Interpretation Of The Supreme Court For Illegal Fund-Raising


    To punish illegal deposits from the public in accordance with the law.

    Fund-raising fraud

    And other criminal activities such as illegal fund-raising, the Supreme People's court and the relevant departments of the China Banking Regulatory Commission and other relevant departments.

    Illegal fund-raising

    Interpretation of certain issues concerning the specific application of law in criminal cases "(hereinafter referred to as"

    judicial interpretation

    It was announced and implemented on 4 th.


    Wang Shaonan, spokesman for the Supreme People's court, said there were eight aspects of the judicial interpretation.

    Among them, first clearly defined the standard and characteristic elements of illegal fund-raising; the second clearly defined the specific behavior of illegal deposits; third, clearly defined the sentencing standard of the crime of illegally absorbing public deposits; fourth clearly defined the specific criteria for "illegal possession" in the crime of fund-raising fraud; fifth clearly defined the standard of conviction and sentencing for the crime of fund-raising fraud; Sixth made clear the specific way of issuing stocks, companies and corporate bonds; seventh made clear the qualitative handling opinions of illegal unauthorized collection of funds; eighth made clear the nature of the false advertising behavior in the illegal fund-raising activities and the standard of punishment.


    Pei Xianding, President of the two court of the Supreme People's court, pointed out that there are various ways of committing crimes of illegal fund-raising, and the techniques are constantly renovated, which is very concealed and deceptive.

    Criminals often rely on legally registered companies and enterprises to disguise and deliberately confuse the boundaries between illegal fund-raising and legal financing in response to national industrial policies, support for new rural construction, project investment and entrusted financial management.

    New illegal fund-raising tactics emerge in an endless stream. Illegal fund-raising has emerged in the form of business investment, commodity sales, e-commerce, fund operation, venture capital, foreign exchange pactions, consumption rebates, and gold futures trading, and has been continuously infiltrated from traditional farming and aquaculture to real estate, business, finance, tourism, medical and health, education and other industries.


    Pei Xianding introduced that for all kinds of illegal fund-raising criminal activities, due to the fact that the relevant laws and regulations are not clear and specific in the judicial practice, the boundaries of policy and law are not easy to grasp, and there are many problems in the application of laws.

    For example, the distinction between illegal fund-raising and lawful lending, legitimate production and business activities and illegal fund-raising in the form of legitimate business operations; the illegal absorption of "public" in the public deposits; the specific identification of "illegal possession purposes" in the crime of fund-raising fraud; whether the behavior of issuing shares in the disguised form of pferring shares to the public can be identified as issuing stocks without authorization.

    To a certain extent, these problems have affected the early detection and effective attack of illegal fund-raising criminal activities.


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