Guiding Case No. 40 of the Supreme People's Procuratorate: People v. Zhou Hui for Fund-raising Fraud
Guiding Case No. 40 of the Supreme People's Procuratorate
Fund-raising fraud; intention of illegal possession; intermediary of P2P lending information
集资诈骗 非法占有目的 网络借贷信息中介机构
Defendant: Zhou Hui, male, born in February 1982, former legal representative of Zhongbao Investment Co., Ltd. in Quzhou City, Zhejiang Province (hereinafter referred to as “Zhongbao Investment Company”)
In February 2011, defendant Zhou Hui registered and formed Zhongbao Investment Company and acted as its legal representative. It operated an e-platform “Zhongbao Investment.” After a borrower (a party issuing invitation for bid) registered on the e-platform and paid the membership fee, he, she or it may issue various bidding information to attract investments of investors. After an investor registered on the e-platform and became a member, he, she or it may participate in the bidding and remit the investment funds to eight personal accounts of Zhou Hui posted on the website or his account of a third-party payment platform by means of bank remittance, AliPay, and TenPay. The borrower may directly obtain the raised funds from Zhou Hui. After the project was complete, the borrower repaid the funds and Zhou Hui gave the bidder the earnings.