Legal basis: Article 192 of the Criminal Law of People's Republic of China (PRC) illegally raises funds by fraud for the purpose of illegal possession. If the amount is relatively large, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than seven years and shall also be fined; If the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than seven years or life imprisonment, and shall also be fined or confiscated.
If a unit commits the crime mentioned in the preceding paragraph, it shall be fined, and the directly responsible person in charge and other directly responsible personnel shall be punished in accordance with the provisions of the preceding paragraph.
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 Article 3 Whoever illegally absorbs or absorbs public deposits in disguised form shall be investigated for criminal responsibility according to law:
(1) Individuals illegally absorb or absorb public deposits in disguised form, amounting to more than 200,000 yuan, and units illegally absorb or absorb public deposits in disguised form, amounting to more than 6,543,800 yuan;
(2) Individuals illegally or in disguised form absorb more than 30 public deposit objects, and units illegally or in disguised form absorb more than 150 public deposit objects;
(3) Individuals illegally absorb and conceal public deposits, resulting in direct economic losses of depositors of more than 654.38 million yuan, and units illegally absorb and conceal public deposits, resulting in direct economic losses of depositors of more than 500,000 yuan;
(4) Causing adverse social impact or other serious consequences.