Judicial Determination Of Illegal Fund Raising In The Name Of Private Equity Fund

Private equity funds occupy an important position in China’s securities market transactions,but in recent years the crime of illegal fund raising in the name of private equity funds has become a major drawback of the current financial market,in which there are controversies on the issues of crime and non-crime,this crime and the other crime.The controversy between crime and non-crime is mainly reflected in the definition of legal private placement and illegal fund raising,and this crime and the other crime mainly involve the crime of illegal public deposit taking and fund raising fraud.It is difficult to distinguish the two crimes only from the manifestation of the crime,because the two crimes have great similarity in terms of behavior,both involve the process of illegal fund raising,and most of them will use some deceptive means when raising funds,so the subjective purpose of illegal possession becomes the key element to distinguish the two crimes.For the above reasons,this article takes the case of Shanmu Forest Products Company and Zheng Moumou as an example and is divided into three parts for analysis.Part I: Sorting out the controversial focus of the case,i.e.whether Shanmu Forest Products Company and Zheng Moumou are guilty,and if so,whether it constitutes the crime of illegal absorption of public deposits or the crime of fund-raising fraud.Part II: Legal application and case commentary.First,the legal private placement and illegal fund-raising behavior to define,combined with the case evaluation,to arrive at the mountain wood forestry company and Zheng Moumou constitute an illegal fund-raising crime;Second,the illegal absorption of public deposits of the elements of the crime,and then combined with the case,that the behavior of mountain wood forestry company and Zheng Moumou meet the illegal absorption of public deposits of the elements of the crime,but whether to constitute the crime,through the following illegal possession of The final conclusion will be reached after the determination of the purpose;finally,the "fraudulent method" and "illegal possession purpose" in the crime of fund-raising fraud are determined,and a comparative analysis of similar cases is introduced to conclude that Shanmu Forestry Company and Zheng Moumou used fraudulent methods for the purpose of illegal possession,constituting the crime of fund-raising fraud.The company and Zheng Moumou used fraudulent methods to raise funds illegally for the purpose of illegal appropriation,which constitutes the crime of capital raising fraud.Part III: Reflections and suggestions.In view of the controversial focus of whether the mountain wood forest product company and Zheng have the purpose of illegal possession,the presumption path of ’ the purpose of illegal possession ’ is improved,and the concept of legal interest recovery is introduced into the follow-up recovery of fund-raising crimes.In order to maximize the protection of investors ’ rights and interests,and finally put forward countermeasures for the crime of illegal fund-raising in the name of private equity funds.