Empirical Analysis Of Criminal Problems Done By P2P Online Lending Platform

This paper discusses the criminal practical issues of P2 P online lending platform in three parts.The first part starts with the exposition of the operation and supervision models of the P2 P online lending platform in UK and the United States,and then the definition of the financial institutions of P2 P lending platform is clarified.Next,the operating forms of P2 P online platform in our country are detailed discussed,including infomediary type,guarantee and credit enhancement type,equity investment securitization type,and debt assignment type(fictitious target and the behavior of financing before lending do not belong to the debt assignment type),in the meanwhile,the orientation of infomediary of P2 P online lending platforms in China is clearly defined according to the existing network regulatory provisions of P2 P.Thirdly,the principle modes of supervision in China(filling system and post-mortem supervision),institutions and contents are clarified.and finally,the existing operation mode is analyzed according to current regulations,for example,the compliance analysis of quota collocation and venture deposit collection during the operating process of infomediary type is carried out;in the guarantee and credit enhancement type,the third party guarantee is in compliance with the regulation,while the self-guarantee violates the rules;equity investment securitization type violates the rules;while whether the debt assignment type violates the regulations depends on the situations.The second part discusses the criminal boundaries issue of non-compliance operation mode in the P2 P online lending platforms.the self-guarantee mode of the platforms is merely an administrative illegal activity,which does not constitute the crime of illegal business operations,crime of establishing a banking institution without authorization,or the crime of illegally absorbing the public deposit;as for the equity investment securitization type,the situations list in article 10(7)of the "Interim Procedures of Business Activity Management for Online Lending Infomediary" all constitute the crime of illegal business operations.if the platform has the essence characteristics of the financing institution,the establishing of the platform constitutes the crime of establishing a banking institution without authorization,which will receive the combined punishment with the crime of illegal business operations;in the behaviors of the platform in transferring creditor’s rights of their own is consistent with the behavior of period splitting in essence,which do not constitute the crime of illegal business operations.Besides,three substantive characteristics of illegal fund-raising in P2 P online lending platforms are specified in this part,including 1)the feature of deposit,which keeps the principle and pays the interests;2)the formation of a capital pool;3)Illegitimacy.The third part analyzes 49 legal precedents of P2 P lending platforms in Zhejiang Province with the method of empirical analysis.The identification of unit crime,the identity definition of the investor,and the possibility of illegality cognition in the crime of illegally absorbing the public deposit are discussed emphatically,also the crime of illegally absorbing the public deposit and crime of fraud in financing are discriminated from the perspective of taking illegal possession as objective.