How many years in prison will Yangzhou Momo anchor Hu Tou be sentenced?

Yangzhou Momo anchor Hu Tou was sentenced to 12.5 years in prison and fined 100,000 yuan. Reimbursement of RMB 43,674,621 was made to the victims, and the two properties were foreclosed and returned to each victim in proportion.

Illegal fund-raising is a promise to repay the principal and interest to the investor within a certain period of time without the legal approval of the relevant departments. In addition to the main form of principal and interest repayment, there are also physical forms and other forms; funds are raised from unspecified objects in society. The "unspecified objects" here refer to the public, rather than a specific few people; the essence of illegal fund-raising is concealed in a legal form. Faced with the "chorus" between certain officials and illegal fund-raising enterprises, it is really difficult to say that it is the latter who "pulled the former into the water", and it is difficult to say that the former only "unintentionally" became a "living prop" and became an "accessory". Public security and judicial organs severely crack down on illegal fund-raising activities in accordance with the law, and must not let go of these ambiguous "living prop officials". As long as they participate in the "performance" of illegal fund-raising, whether they only collect appearance fees, or there will be further steps to follow. All operations must bear party and government disciplinary responsibilities and legal responsibilities for this.

Relevant categories:

According to the relevant provisions of the "Notice on Further Combating Illegal Fund-raising and Other Activities" (Yinfa [1999] No. 289), "illegal fund-raising" can be summarized as follows Several types:

(1) Absorb funds through the issuance of securities, membership cards or debt certificates.

The more common ones are: illegal fund-raising in the name of issuing or disguised issuance of rights certificates such as stocks, bonds, lottery tickets, investment funds, etc., or in the name of futures trading and pawns. Illegal fund-raising through claiming shares, dividends from shares, entrusted investment, and entrusted financial management. Illegal fund-raising is carried out through membership cards, membership certificates, seat certificates, discount cards, consumption cards, etc.

(2) Divide properties, real estate and other assets into equal parts, and raise funds at high interest rates by selling the disposal rights of their shares.

The latest change is: illegal fundraising by selling its shares and promising after-sales and leasebacks, after-sales buybacks, regular rebates, etc.

(3) Use private associations to illegally raise funds.

Recent changes: the use of underground banks for fund-raising activities.

Legal Basis

"Criminal Law of the People's Republic of China" (2020 Amendment)

Article 176 Illegal absorption of public deposits or disguised Whoever absorbs deposits from the public and disrupts financial order shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention, and shall also be fined, or shall be fined alone; if the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than three years and not more than ten years, and shall also be fined; if the amount is special If the crime is huge or there are other particularly serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than ten years and shall also be fined.

If a unit commits the crime in the preceding paragraph, the unit shall be fined, and the person directly in charge and other directly responsible personnel shall be punished in accordance with the provisions of the preceding paragraph.

Those who commit the acts in the first two paragraphs and proactively return stolen goods and compensation before filing a public prosecution to reduce the damage will be given a lighter or reduced punishment.

Article 192: Whoever uses fraudulent methods to illegally raise funds for the purpose of illegal possession, and the amount is relatively large, shall be sentenced to fixed-term imprisonment of not less than three years but not more than seven years, and shall also be fined; if the amount is huge or there are other If the circumstances are serious, the offender shall be sentenced to fixed-term imprisonment of not less than seven years or life imprisonment, and shall also be fined or have property confiscated.

If a unit commits the crime in the preceding paragraph, the unit shall be fined, and the person directly in charge and other directly responsible personnel shall be punished in accordance with the provisions of the preceding paragraph.

Article 266: Whoever defrauds public or private property and the amount is relatively large shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or public surveillance, and shall also or solely be fined; if the amount is huge or there are other serious circumstances, Those who commit crimes shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years, and shall also be fined; if the amount is particularly huge or there are other particularly serious circumstances, they shall be sentenced to fixed-term imprisonment of not less than ten years or life imprisonment, and shall also be fined or their property shall be confiscated. If this law provides otherwise, the provisions shall prevail.