Research On Criminal Regulation System Of P2P Network Fund-Raising Behavior

Given that P2P(peer-to-peer)lending has been hovering in the"vague zone"of law since its birth,the laws of various countries,especially the criminal law,have placed great concern on it.Within merely a few years since the first case of P2P lending,"Eastern Investment"was adjudicated in 2014,the number of relevant criminal judgments made by the courts has been increasing,while huge losses have been brought to numerous platforms and investors by a number of"thunderstorms".As the previous"favored one"of Internet finance,it has even been regarded as the synonym of"fraud".Nevertheless,the promotion of Inclusive Finance is believed an inevitable trend.As a crucial form of private finance,P2P lending will undoubtedly play a vital role in future financial reform.In the research of this paper,the alienation of P2P lending,namely the specific problems arising from the P2P network fund-raising behavior injudicial practice,has been focused on,with the view of providing certain conduciveness for judicial practice.This paper includes five parts:The first part is the introduction,in which the research background and current situation of the paper is introduced,the research significance is summarized and concluded,the research methods that are specifically adopted in the writing of the paper are elaborated,while the sources and basic information of the sample cases selected by the paper are explained.In the second part,the necessity and limitation of the Criminal Law's regulation of P2P network fund-raising are discussed.From the perspective of the realistic and theoretical necessity of the Criminal Law's regulation of P2P network fund-raising behavior,the practical and theoretical basis of the Criminal Law's intervention in this field is elaborated through the combination of theoretical content related to its social harmfulness and secondary illegality.On this basis,it is argued that the Criminal Law is expected to comply with its attribute of ex post facto legislation and only intervene in an appropriate manner at the appropriate time.The applicability of the crime of illegally absorbing public deposits is explored in the third part.Mainly from judicial practice,the conformity between P2P network fund-raising and the crime in form is firstly elaborated in order to narrow the scope of crime fighting in the field of P2P network fund-raising from the perspective of explaining the characteristics of restrictive acts;Secondly,in view of the situation of different punishments for the same crime existing in identifying the scope of accomplices of the crime of illegally absorbing public deposits by the judicial organs,it is put forward that the doctrine of responsibility should be strictly adhered to and the liability scope of accomplices should be distinguished;Finally,the problem of insufficient identification of the fund usage in judicial practice is solved by establishing the impunity and incrimination path of"Fraud plus Fund Usage".In the fourth part,the problem of whether the P2P network fund-raising behavior is applicable to the crime of fraud in financing is discussed.Firstly,in the face of the fact that the judicial organs are not clear about the."purpose of illegal possession",specific standards are put forward from the perspective of legal provisions and fund usage,etc.;Secondly,in view of the situation that the judicial organs tend to blindly expand the scope of the"fraud methods"when carrying out the identification,the expanded interpretation of judicial organs is limited by distinguishing the differences of the "fraud methods"between the crime and other common crimes of fraud;Finally,in terms of the amount standards related to sentencing,it is expected that the identification standards of"especially huge amount"will demonstrate greater clarity and specificity,thus promoting the formation of a more specific and scientific sentencing system.In the fifth part,the problem of whether the P2P nertwork fund-raising behavior is applicable to the crime of illegal business operation is studied.Analyzing from the perspective of the absence of pre-regulations in the field of P2P network fund-raising,it theoretically argues that the basic clause of the crime violates the normal market order.It is advocated that the crime of illegal operation should be crimirnalized in the field of P2P network fund-raising rather than be recognized as pocket crime,thus hindering the development of financial innovation.