Research On The Judicial Identification Of Illegal Fund Raising Crimes Involving Private Equity Fund

At present,China’s private equity industry is "barbaric growth" and uneven,and private equity funds have become a new field for illegal fundraising crimes.In the face of the current situation of the explosive demand of residents’ investment needs,the weakening of administrative supervision measures,and the difficulty of criminal justice determination,it is urgent to carry out judicial recognition research on crimes involving illegal fundraising of private equity funds,and then realize the practical significance of giving full play to judicial power,promoting financial innovation,resolving major risks,and escorting economic order.This paper focuses on judicial practice,takes the judgment documents of the China Judgment Documents Network as the empirical research object,and sorts out the judicial determination disputes in the object,objective,subject and subjective aspects of such crimes.Subsequently,focusing on the above controversy,this paper puts forward the idea of determining the elements of illegal fundraising involving private equity funds,first identifying the elements of illegality,and then determining the constituent elements of liability.The determination of the constituent elements of the violation includes substantive illegality,formal illegality and the cause of illegal obstruction,and the criteria for determining the substantive illegality are legal infringement and social harm,and the legal benefits of such criminal infringement specifically refer to the national financial management order that may cause systemic financial risks,and should be jointly determined with the administrative department when judging.When determining social harm,it is necessary to distinguish between innovative private equity funds and fake private funds,and apply the principle of initial non-intervention to the former.This paper proposes that the law in illegality should be expanded to be interpreted,oral transmission should take preventive measures,and the inducement should be examined in combination with the operational characteristics of private funds,and relatives and friends in society should be transformed from blood relatives to economic relatives.The determination of the constituent elements of liability includes the capacity for responsibility,the possibility of understanding illegality,the purpose and motive,etc.In terms of the way of assuming criminal liability,this paper introduces a criminal compliance system;Propose the use of the principle of trust in the criteria for determining the possibility of recognizing illegality;In the determination of "for the purpose of illegal possession",it is proposed to distinguish between claims and rights,and put forward the principle of subjective presumption.Finally,for the improvement of the judicial recognition system for illegal fundraising crimes involving private equity funds,the prospect of improving the legal and regulatory system,improving the scope of the regulatory system,doing a good job in the two-way connection between criminal justice and administrative industry governance,and constructing the principle of individualization of criminal punishment is prospected.