Legal basis: Article 4 of the Interpretation of the Supreme People's Court on Several Issues Concerning the Specific Application of Laws in the Trial of Criminal Cases of Illegal Fund-raising: Whoever commits the acts listed in Article 2 of this Interpretation by fraudulent means for the purpose of illegal possession shall be convicted and punished for the crime of fund-raising fraud in accordance with the provisions of Article 192 of the Criminal Law.
In any of the following circumstances, it can be considered as "for the purpose of illegal possession":
(1) The raised funds are not used for production and business activities, or are obviously out of proportion to the scale of the raised funds, so that the raised funds cannot be returned;
(two) wantonly squandering fund-raising, so that the fund-raising can not be returned;
(3) fleeing with funds;
(4) The funds raised are used for illegal and criminal activities;
(5) Evading, transferring funds, concealing property or evading the return of funds;
(six) concealing or destroying accounts, or engaging in fake bankruptcy or bankruptcy to escape the withdrawal of funds;
(seven) refused to account for the whereabouts of funds, to escape the return of funds;
(eight) other circumstances that can be identified as the purpose of illegal possession.
The purpose of illegal possession in the crime of fund-raising fraud should be determined according to the situation. If part of the illegal fund-raising behavior of the actor has the purpose of illegal possession, the fund-raising involved in this part of illegal fund-raising behavior shall be convicted and punished for the crime of fund-raising fraud; If the center of the crime of illegal fund-raising has the purpose of illegal possession and other actors have no intention or behavior of illegal possession of fund-raising, the actor with the purpose of illegal possession shall be convicted and punished for the crime of fund-raising fraud.
Article 11 of the Regulation on the Supervision and Administration of Financing Guarantee Companies: If a financing guarantee company is dissolved, it shall set up a liquidation group to carry out liquidation according to law and make clear arrangements for assuming the unexpired financing guarantee responsibilities. The supervision and administration department shall supervise the liquidation process. Where a financing guarantee company is dissolved or declared bankrupt according to law, it shall submit a financing guarantee business license to the supervision and administration institution, which shall make an announcement.