Min Yang, a native of Bozhou, invested 654.38+10,000 yuan to become the head of Hefei franchise store of Bozhou Xingbang Technology Development Co., Ltd. The court held that in the process of marketing and promoting various products developed by Xingbang Company, Min Yang used generous interest and remuneration as bait to encourage the elderly and women to participate in fund-raising, share purchase and become sales agents, and illegally absorbed more than 6.5 million yuan. After the incident, 56 victims not only got part of the rebate, but also failed to recover the fund-raising fund of 66,543,800 yuan, causing great economic losses.
The court held that Min Yang, in violation of relevant state regulations, illegally absorbed more than 6.5 million yuan from an unspecified public in the name of participating in fund-raising, shareholding, sales and agency of "Qingxin Tablet" health care products, "Cartas" dry red wine, Dawei real estate and other projects, and the amount was huge, which constituted the crime of illegally absorbing public deposits.
In view of Min Yang's illegal absorption of public deposits, resulting in direct economic losses of more than 665,438 yuan+100,000 yuan for several victims, the court imposed a heavier punishment as appropriate.