On Criminal Regulation Of Illegal Fund-raising

In the era of planned economy, due to the funds controlled strictly by the state, the state-owned Banks monopoly the market of cash flow, and financing activities for the development of enterprises mainly rely on administrative plan and instruction, so that private financing cannot exist. With the deepening of the reform and opening up, the market economic system gradually established. Based on the influence of the national macroeconomic regulation and control policy and to protect its own credit security, the examination and approval of bank loans to the enterprise is very strict, and the enterprise is difficult to obtain funds for their own development through the bank. At the same time, due to the rapid development of economy, people’s living standard keeps improving, with the wealth accumulating continuously. In order to obtain more benefits, people are willing to invest in something. So the rapid development of folk financing not only satisfies the small and medium-sized enterprises and individual demand for money, but also caters to people’s investment desire. One hand, due to the regulation of relevant law and mechanism of folk financing is still insufficient, the quantity of the illegal fund-raising has skyrocketed, and it impacts on the normal financial order and social stability of China and cause serious damage to the property safety of the people. On the other hand, the regulation of current criminal law of illegal fund-raising crime are strict, to a certain extent, affected the normal development of non-governmental financing, and such regulations are not conducive to economic development. How to crack down on illegal fund-raising crime and at the same time guarantee normal folk financing activities reasonable space for development? This problem has caused the theoretical circle and the social public concerned and widely discussed.Under this background, this paper intends to review the present situation of the illegal fund-raising activities in China and the regulation of criminal law, to find the deficiency of the current criminal law regulation of illegal fund-raising activities, and analyze the rationality of illegal fund-raising crime, in order to put forward reasonable suggestions to perfect the criminal law regulation of illegal fund-raising activities. Therefore, this paper is divided into the following four parts:First chapter elaborates the general situation of the illegal fund-raising activities, including that the basic definitions for the normal financing and the illegal folk financing, presentation concerning the current situation and characteristics of financing activities, and specific analysis on the reasons of the illegal fund-raising crime.Second chapter expounds the present situation of the criminal law against illegal financing activities. First of all, it tells the development of criminal legislation related to illegal fund-raising crime in our country, and then analyze the necessity of the criminal law to stipulate the illegal fund-raising crime, and try to find and evaluate the defects existing in them.Third chapter, the key part of this paper, discusses the judicial determination of illegal fund-raising crime. This chapter mainly discusses how to distinguish between general private lending and crime of illegal absorbing public deposits, the legal boundaries of legitimate financing and crime of fraud in financing and so on. In addition, it identifies the behavior nature of illegal fund-raising crime.Fourth chapter gives the suggestions for the perfection of criminal regulation of illegal fund-raising activities. At first, it offers three suggestions on how to prevent illegal fund-raising crime. Then it proposes on the limitation of applying to criminal regulation of illegal fund-raising, combining with the defects existing in current criminal law.