Is this kind of fundraising legal? 30

Interpretation on Several Issues Concerning the Specific Application of Law in the Trial of Criminal Cases of Illegal Fundraising": "Where the following four conditions are met at the same time, the act of soliciting funds from the public (including units and individuals) in violation of the laws and regulations of the State on Financial Management shall be deemed to be 'illegally absorbing public deposits or absorbing public deposits in disguise' as provided for in Article 176 of the Criminal Law:(1) Absorbing funds without the approval of the relevant departments in accordance with law or in the form of lawful business operations;(2) Publicize to the public through channels such as **, promotion meetings, leaflets, and mobile phone text messages; (3) Undertaking to repay principal and interest or pay returns in money, in kind, equity, or other means within a certain period of time; (4) Absorbing funds from the public, i.e., unspecified targets of society.

Where funds are not publicized to the public, but are solicited from relatives, friends, or units for specific targets, it is not an illegal absorption or covert absorption of public deposits. ”

In any of the following circumstances, criminal responsibility shall be pursued in accordance with law: (1) Individuals illegally absorb or covertly absorb public deposits, with an amount of 200,000 yuan or more, and units illegally absorb or covertly absorb public deposits with an amount of 1 million yuan or more; (2) Individuals illegally absorb or covertly absorb 30 or more public deposits, or units illegally absorb or covertly absorb 150 or more public deposits; (3) Where an individual illegally absorbs or covertly absorbs deposits from the public, causing direct economic losses of more than 100,000 yuan to depositors, or units illegally absorbing or covertly absorbing deposits from the public, causing direct economic losses of more than 500,000 yuan to depositors; (4) Causing a vile social impact or other serious consequences. ”

You explain why. Generally, as long as it does not comply with the laws and regulations of the country, it is illegal (must meet the statutory conditions), such as the company's shareholders, public offerings, private placements and other statutory forms.

Legal Analysis: Most of the private fundraising is illegal. Units or individuals without the approval of the relevant departments in accordance with legal procedures, in the form of the issuance of **, bonds, lottery tickets, investment or other debt certificates to raise funds from the public, and promise to repay the principal and interest or give returns to the investors in a certain period of time in money, in kind and other ways is illegal fund-raising, the state does not allow individuals or units to illegally raise funds, which is strictly regulated.

Legal basis: Criminal Law of the People's Republic of China, Article 192: Where fraudulent methods are used to illegally raise funds for the purpose of illegal possession, and the amount is relatively large, a sentence of between three and seven years imprisonment and a concurrent fine is to be given; where the amount is huge or there are other serious circumstances, a sentence of 7 or more years imprisonment or indefinite imprisonment is to be given, and a concurrent fine or confiscation of property. Where a unit commits the crime in the preceding paragraph, the unit is to be fined, and the directly responsible managers and other directly responsible personnel are to be punished in accordance with the provisions of the preceding paragraph.

Legal Analysis: It is okay to participate in fundraising but it is not illegal to raise capital, but it does not mean that all fundraising activities are illegal. Convening other persons to participate is suspected of the crime of fund-raising fraud and the crime of illegally absorbing deposits from the public, and their criminal responsibility shall be investigated in accordance with law.

If other persons are not summoned to participate, they are victims and have no legal responsibility, but the money involved in illegal fundraising is not protected by law, and the relevant authorities will do their best to recover the illegal fundraising funds, and if the fundraising funds cannot be returned, the participants shall bear the losses.

Legal basis: Article 192 of the Criminal Law: Whoever uses fraudulent methods to illegally raise funds for the purpose of illegal possession, and the amount is relatively large, is to be sentenced to up to five years imprisonment or short-term detention and a concurrent fine of between 20,000 and 200,000 RMB; where the amount is huge or there are other serious circumstances, a sentence of between 5 and 10 years imprisonment and a concurrent fine of between 50,000 and 500,000 RMB is to be given; where the amount is especially huge or there are other especially serious circumstances, a sentence of 10 or more years imprisonment or indefinite imprisonment is to be given, and a concurrent fine of between 50,000 and 500,000 RMB or confiscation of property is to be given.

It is illegal to raise funds in rural areas in the following ways: to absorb funds in the form of issuing valuable **, membership cards or debt certificates; Divide property, real estate and other assets in equal shares, and raise funds at high interest rates through the right to dispose of their shares; Illegal fundraising in the form of private associations.

Criminal Law of the People's Republic of China

Article 192.

Where fraudulent methods are used to illegally raise funds for the purpose of illegal possession, and the amount is relatively large, a sentence of between three and seven years imprisonment and a concurrent fine is to be given;

Where the amount is huge or there are other serious circumstances, the sentence is to be 7 or more years imprisonment or life imprisonment, and a concurrent fine or confiscation of property is to be given.

Where a unit commits the crime in the preceding paragraph, the unit is to be fined, and the managers and other directly responsible personnel directly responsible for the leakage of the slag field are to be punished in accordance with the provisions of the preceding paragraph.

Legal analysis: legal fund-raising refers to the company, enterprise or group, individual in accordance with the conditions and procedures stipulated by relevant laws and regulations, through the issuance of valuable ** to the public, or the use of financial leasing, joint ventures, joint ventures, enterprise fund-raising, etc., to raise the required funds in the capital market.

Legal basis: Criminal Law of the People's Republic of China Article 176 Whoever illegally absorbs public deposits or covertly absorbs public deposits, disrupting the order of Jin Congshen's bending, is to be sentenced to up to three years imprisonment or short-term detention and/or a fine; where the amount is huge or there are other serious circumstances, a sentence of between 3 and 10 years imprisonment and a concurrent fine is to be given; where the amount is especially huge or there are other especially serious circumstances, a sentence of 10 or more years imprisonment and a concurrent fine is to be given. Where a unit commits the crime in the preceding paragraph, the unit is to be fined, and the managers and other directly responsible personnel who are directly responsible for the crime are to be punished in accordance with the provisions of the preceding paragraph.

Where there is conduct in the preceding two paragraphs, and before initiating a public prosecution, the stolen goods are actively returned and restitution is made to reduce the occurrence of harms, the punishment may be mitigated or commuted.