Discussing The Crime Of Fund Raising Defraud

Since the crime of fund raising defraud was incorporated into Criminal Law ofChina in1997, it had been criticized constantly. Searching in any criminal laws of thedeveloped countries, we can hardly find any relevant provisions of this accusation,only some similar provisions from the provisions of ordinary crime of defraud.Theoretically, the more prosperous a national financial market is, the more universalits financing behaviors are, and the more risk of suffering from the crime of fraudulentfund raising it faces to, therefore, the more perfect its criminal legislation on the crimeof fund raising defraud should be. But the reality shows just the opposite. why ourlegislature listed this accusation separately in our country’s criminal law? Through theanalysis of the case of WuYing, this article tried to find its legislative background andpurpose，and along with conviction and punishment in judicial practice. And morecritically, the purpose of writing is to call for the correct application of the crime offund raising defraud in the judiciary, and also, treat the criminal of fund raisingdefraud with some tolerance and understanding.Except the preamble and peroration, this article is divided into four parts:Part1, Through the summary and analysis of the background of the case of WuYing, this paper tried to fine the causes of the crime, and proposed the fraudulent fundraising case of Wu Ying is not accidental. Its occurrence is the result of multiplefactors, financial policies, the traditional concept of economy, conservative culture,and also the lag of the criminal law. Considering the reasons above, the author believed that financial policies should be the chief culprit.Part2, Based on the analysis of the problems in trials, the article proved that thesubjective factor involved in the crime can only be the direct intention and the mostcritically, can not formation after it happened. And through crime of fraudulent fundraising behavior characteristic’s analysis, make defraud connotation defraud objectscope as well as the defraud amount standard clear. By the discussion of these issues,the author hoped this paper can contribute to the judicial cognizance of crimefraudulent fund raising.Part3, According to the study on the punishment of the crime fraudulent fundraising, the characteristics of this crime is human’s avarice and greedy nature. So inthe judicial practice, the judge and legislator should limit the application of deathpenalty, and sentence or stipulate fine penalty, qualification penalty, and freedompenalty alternatively. At the same time, the author thought it is defective that the lawonly regarded the amount of crime as a prosecution standard. In the judicial practice,this is not conducive to the fight against crime. Therefore this paper proposed asolving measure, that the number of victims should also be considered as anotherprosecution standard.Part4, After a discussion on abolition and preservation of the crime of fraudulentfund raising we concluded that the crime is the Baseline that regulated thefinancial market order. In this paper the author thought, as the crime fraudulent fundraising already established, the judiciary should judge in strict accordance with thelaw, but should keep the restraint attitude, in order to reserve some room for theNon-criminal settlement mechanism that may arise in the future.