Mobile sent me a short message "CBRC, Ministry of Public Security and China Mobile remind you that illegal fund-raising is not protected by law, so be careful not to lose all your money".

10086' s friendly reminder is generally a kind of friendly reminder to the customers entrusted by China Banking Regulatory Commission and Ministry of Public Security to China Mobile who use the SMS platform of China Mobile.

According to the provisions of the Notice on Banning Illegal Financial Institutions and Illegal Financial Business Activities, illegal fund-raising refers to the behavior that a unit or individual raises funds from the public by issuing stocks, bonds, lottery tickets, investment fund securities or other creditor's rights certificates without the approval of legal procedures, and promises to repay the principal and interest to investors in cash, in kind or in other ways within a certain period of time.

In order to punish illegal fund-raising crimes such as illegally absorbing public deposits and fund-raising fraud, the Supreme People's Court, together with the CBRC and other relevant units, studied and formulated the Interpretation on Several Issues Concerning the Specific Application of Laws in the Trial of Criminal Cases of Illegal Fund-raising, which came into effect on 20114.

Extended data:

Illegal fund-raising may be suspected of committing two crimes, namely the crime of illegally absorbing public deposits and the crime of fund-raising fraud.

Once the public security organ files a case, the victim (creditor) can register with the public security organ. Finally, in combination with the facts ascertained by the court, if the property of the criminal suspect is insufficient to repay, compensation will be made according to the plan drawn up between them.

According to Article 10 of the Interpretation of the Supreme People's Court on Several Issues Concerning the Specific Application of Law in the Trial of Fraud Cases, if the perpetrator commits fraud, the property seized or frozen after the incident and the fruits thereof shall be returned to the victim if the ownership is clear.

If the ownership is unclear, it can be returned to the victim according to the proportion of the money and goods defrauded by the victim to the total amount of seized, frozen property and fruits; If it can be determined that the seized or frozen property and its fruits do not belong to the identified victims, but it cannot be returned to the unidentified victims, it shall be turned over to the state treasury according to law.

References:

Baidu encyclopedia-illegal fund-raising