A few days ago, the people's Court of Xintian County, Hunan Province, tried a case involving the fraud of old-age pension money. The defendant he was sentenced to 12 years' imprisonment and a fine of 300000 yuan for the crime of fund-raising fraud, and was ordered to return and compensate the economic losses of the victims according to law. In June 2017, he registered and established a pension Industry Service Co., Ltd. in the name of others, and used rebates, free travel, high interest and investment dividends as bait to illegally raise funds from unspecified social public. In November 2019, relying on the above-mentioned companies and projects, He Mou absorbed 3.736 million yuan of public deposits, resulting in direct economic losses of 3.5141 million yuan for the victims, involving 317 victims. In February 2021, he was arrested by the police in Guangzhou, Guangdong. After trial, the court found that from 2016 to 2021, the people's Court of Ningyuan County, Hunan Province successively accepted and judged 17 civil cases related to the defendant he, and the amount of execution reached several million yuan. The defendant, He Mou, knew that he owed a huge amount of debt and had no ability to repay it. He still took illegal possession as the purpose, and used deceptive means to raise funds by means of rebate, free travel, high interest and dividends. The amount was huge, so that the funds of the fund-raising people could not be returned, which constituted the crime of fund-raising fraud. In conclusion, the court made the above judgment according to law. (news agency)
Edit：Wei Li Bin Responsible editor：Yin Bing
Source：People's Court Journal
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