Zhejiang United SMEs did not file a case. Zhejiang United Small and Medium-sized Enterprises Holding Group Co., Ltd. released the latest report on the case of Zhejiang United Small and Medium-sized Enterprises Holding Group Co., Ltd. suspected of illegally absorbing public deposits. Five people suspected of illegally absorbing public deposits were criminally detained by Gongshu District Branch of Hangzhou Public Security Bureau. The public security organs will continue to carry out investigation and evidence collection, find out the facts of the case, verify the flow of funds, and announce the work progress in due course. It is hoped that investors will actively cooperate with the investigation, do not believe or spread rumors, and express their demands and reflect the situation through legal channels. The public security organs will seriously deal with the acts of fabricating and spreading all kinds of rumors, maliciously provoking and inciting illegal gatherings, and interfering with the investigation of cases.
Article 266 of the Criminal Law of People's Republic of China (PRC). Whoever defrauds public or private property in a relatively large amount shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or public surveillance, and shall also, or shall only, 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 three years but not more than ten years and shall also be fined; If the amount is especially huge or there are other especially serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment, and shall also be fined or confiscated. Where there are other provisions in this Law, such provisions shall prevail.