Sentencing standards for illegal fund-raising
What is the crime of illegal fund-raising
The crime of illegal fund-raising usually refers to the crime of illegally absorbing public deposits, the crime of fund-raising fraud, and the crime of fraudulent issuance of stocks , bond crimes, and unauthorized issuance of stocks, companies, and enterprise bonds.
1. The crime of fund-raising fraud
The crime of fund-raising fraud refers to the act of illegally raising funds through fraudulent means for the purpose of illegal possession, reaching the amount and circumstances specified by law. Different from the single criminal object of the crime of illegally absorbing public deposits (referring to the crime of violating financial management order), the criminal object of the crime of fund-raising fraud is a complex object, which not only violates the financial management order, but also infringes upon the ownership of public and private property. Article 3 of the 1996 Interpretation of the Supreme People's Court on Several Issues Concerning the Specific Application of Laws in the Trial of Fraud Cases stipulates: The "fraud method" in the crime of fund-raising fraud refers to the perpetrator's use of fictitious fund-raising purposes, false certification documents and high returns. The rate is a bait and a means of fraudulent fund-raising; if the perpetrator has any of the following circumstances, his behavior shall be deemed to be "fraudulent and illegal fund-raising for the purpose of illegal possession":
(1) Escape with the collected funds. ;
(2) The funds raised are squandered, resulting in the inability to return the funds;
(3) The funds raised are used to carry out illegal and criminal activities, resulting in the funds being unable to be returned;
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(4) Refusing to return the funds raised due to other fraudulent activities, or making it impossible to return the funds raised.
The Supreme People's Court in 2001 summarized the purpose of illegal possession in the crime of fund-raising fraud as follows:
(1) Knowing that one has no ability to repay but defrauding a large amount of money;
(2) Absconding after illegally obtaining funds;
(3) Defrauding funds at will;
(4) Using defrauded funds to carry out illegal and criminal activities;
(5) Escape from canceling accounts, false bankruptcy, and evading withdrawal of funds.
(6) Other illegal possession of funds and refusal to return them.
According to the "Standard Provisions on the Prosecution of Economic Crime Cases", if the amount of individual fund-raising fraud exceeds 100,000 yuan, or if the amount of corporate fund-raising fraud exceeds 500,000 yuan, criminal liability shall be pursued in accordance with the law. Since the crime of fund-raising fraud is subjectively malignant and harmful to society, if the amount of the crime of fund-raising fraud is particularly huge and causes particularly heavy losses to the interests of the country and the people, the maximum sentence may be the death penalty.
Sentencing standard:
Whoever commits the crime of fund-raising fraud shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan; if the circumstances are serious, he shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention. Those who commit the crime of fund-raising fraud and the circumstances are particularly serious shall be sentenced to fixed-term imprisonment of not less than 5 years but not more than 10 years, and a fine of not less than 50,000 yuan but not more than 500,000 yuan. A fine of not more than RMB 10,000 or confiscation of property shall be imposed; whoever commits the crime of fund-raising fraud, if the amount is extremely huge and causes particularly heavy losses to the interests of the country and the people, shall be sentenced to life imprisonment or death, and shall also have property confiscated.