On Shenmou Fund Raising Fraud Case

At the current specific historical period when China's market economy needs further development and improvement,the non-public sector has achieved rapid development.However,because financial system reform lags behind,there are huge structural contradictions in capital supply and demand.At the same time,there are also great contradictions between folk increasingly abundant funds and limited investment channels,so folk financing also is showing a growing trend.Folk financing opens up a new channel of financing and investment for the society and alleviates the financing difficulties of private enterprises.Due to the lack of regulation and oversight,however,fraud of financing and other illegal financing cases soar.They have serious negative impact on the society,and attract the considerable attention of social all sectors of society.Through the elaboration and analysis of Mr.Shen financing fraud case,a typical case in the many of illegal financing cases,the author explores the determination criteria of China's financing fraud cases and distinguishing of crime and non-crime,as well as the specific types of crime.Mr.Shen financing fraud case is a typical illegal financing case with four contention focuses as follows:firstly,whether he used fraud method objectively;secondly,whether he used fraud way objectively with the purpose of illegal financing;thirdly,whether he had the purpose of illegal possession subjectively;fourthly,whether he constituted crime of fraud in financing.After the analysis and discussion of the concepts of means of fraud,illegal financing,purpose of illegal possession,financing fraud,and constitutive requirements of crime and their characteristics,the whole financing fraud case was analyzed and the following conclusions are drawn:firstly,he used fraud method objectively;secondly,he used fraud way objectively with the purpose of illegal financing;thirdly,he had the purpose of illegal possession subjectively;fourthly,he constituted crime of fraud in financing from the aspects of three elements and four elements.In judicial practice,it is necessary to differentiate financing fraud crime,formal folk financing,crime of illegally absorbing public deposits and fraud crime.Only in this way could the government accurately determine financing fraud crime,correctly apply the law and precisely crack down upon crime.