Legal subjectivity:

The specific circumstances are: 1. The funds raised are not used for production and business activities or are used for production and business activities that are obviously disproportionate to the scale of the funds raised, resulting in the funds raised being unable to be returned. . 2. Wantlessly squandering the funds raised, resulting in the funds being unable to be returned. 3. Escape with the funds raised. 4. Use the funds raised for illegal and criminal activities. 5. Escape, transfer funds, conceal property, and avoid returning funds. 6. Concealing or destroying accounts and evading the return of funds. Legal objectivity:

Article 192 of the Criminal Law of the People's Republic of China and the People's Republic of China. Whoever uses fraudulent methods to illegally raise funds for the purpose of illegal possession, and the amount is relatively large, shall be sentenced to not less than three years and seven years in prison. If the amount is huge or there are other serious circumstances, 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.