A friend's small company needs a lot of people to invest a lot of money in shares and promise high returns. Is it illegal?

Illegal fund-raising activities have the following characteristics, which can be distinguished by reference:

(a) without the approval of the relevant departments according to law or in the form of borrowing legal business to absorb funds;

(two) through the media, promotion meetings, leaflets, mobile phone messages and other means to promote to the society;

(3) Commitment to repay the principal and interest or pay the return in the form of currency, material object or equity. In a certain period of time;

(four) to absorb funds from the public, that is, the social unspecified objects.