Illegal Fundraising Falls in 2017

Illegal fundraising saw 5052 cases and 180 billion yuan in 2017, down from the year before. Cases continued falling in early 2018. However, there are still 13,000 cases outstanding and the caseload is still growing.

East Money: 非法集资持续“双降” 2017年未处置存案1.3万起

On April 23, the information released by the Inter-Ministry Joint Conference Office on Disposal of Illegal Fund Raising (hereinafter referred to as "the Office") showed that illegal fund-raising cases continued to "double down", but the overall situation was still severe. In 2017, a total of 5052 new illegal fund-raising cases were filed across the country, involving a total amount of 179.55 billion yuan, a year-on-year decrease of 2.8% and 28.5% respectively. From January to March 2018, there were 1037 new illegal fundraising cases, involving a total amount of 26.9 billion yuan, down 16.5% and 42.3% year-on-year respectively, and continued to maintain a “double down” trend.

　　However, Yang Yuzhu, director of the office, also stated that the current total case rate is still operating at a high level, the number of people involved in fundraising continues to rise, inter-provincial cases continue to occur, and serious cases involving multiple provinces and even the whole country still occur from time to time. The overall situation is still severe. .

　　It is reported that in 2017, various provinces (autonomous regions and municipalities) combed over 13,000 cases of Chen’s case that had not been disposed of.

What is illegal fundraising? It includes everything from fraud and Ponzi schemes to companies misrepresenting themselves:

Companies that are not financial institutions or engage in financial activities do not use "exchange", "exchange center", "finance", "asset management", "financial management", "funds", "fund management", and "investment management" in principle. "Wealth Management," "Equity Investment Fund," "Internet Lending," "Internet Lending," "P2P," "Equity Crowdfunding," and "Internet Insurance.""Pay" and other words.

The Supreme People's Court stated that the people's court has always adhered to the principle of strict punishment and severely cracked down on illegal fund-raising crimes in accordance with the law to ensure the effect of punishment. From 2015 to 2017, the rate of heavy penalty for illegally assaulting public deposit crime cases (the rate of sentence of imprisonment of more than five years imprisonment) was 23.17%, 19.42%, and 18.4%, respectively, and the conviction rate for fund-raising fraud cases was 75.03% respectively. , 77.77%, 77.22%. The imprisonment rates for illegally absorbing public deposits were 71.20%, 72.91%, and 78.36, respectively. The imprisonment rates for fund-raising fraud cases were 93.44%, 94.82%, and 93.66%, respectively.