The case was accepted by the Intermediate People's Court. The amount of fraud involved is RMB 50 million, and the amount of fraud is particularly huge. Sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment, and fined or confiscated property.

According to the Criminal Procedure Law of People's Republic of China (PRC):

Article 21 The Intermediate People's Court shall have jurisdiction over the following criminal cases of first instance:

(1) Cases endangering national security and terrorist activities;

(2) Cases that may be sentenced to life imprisonment or death penalty.

According to the provisions of the Criminal Law of People's Republic of China (PRC):

Article 266 Whoever defrauds public or private property in a relatively large amount shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or public surveillance, and shall also, or shall only, be fined; 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 but not more than ten years and shall also be fined;

If the amount is especially huge or there are other especially serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment, and shall also be fined or confiscated. Where there are other provisions in this Law, such provisions shall prevail.

According to the Interpretation of the Supreme People's Court and the Supreme People's Procuratorate on Several Issues Concerning the Specific Application of Law in Handling Criminal Cases of Fraud:

Article 1 Whoever swindles public or private property in an amount of over 3,000 yuan, over 30,000 yuan, over 100,000 yuan and over 500,000 yuan shall be deemed as "large amount", "huge amount" or "especially huge amount" as stipulated in Article 266 of the Criminal Law respectively. ?

The higher people's courts and people's procuratorates of all provinces, autonomous regions and municipalities directly under the Central Government may, in combination with the economic and social development of the region, jointly study and determine the specific amount standards implemented in the region within the scope of the amount specified in the preceding paragraph, and report them to the Supreme People's Court and the Supreme People's Procuratorate for the record.

Extended data:

Guangxi Yulin Police Detect Extraordinary Fund-raising Fraud Case? The amount involved exceeds 50 million yuan.

Xinhua News Agency, Nanning, May 6 (Reporter Tang) The reporter learned from the Public Security Bureau of Yulin City, Guangxi Province that Yulin police recently successfully detected a large fund-raising fraud case involving more than 50 million yuan, arrested six suspects, frozen and detained more than 7 million yuan of funds involved, and seized the property involved 1 set.

According to reports, in late March this year, more than 500 people reported to the Economic Investigation Detachment of Yulin Public Security Bureau, claiming that they were defrauded by Yulin Branch of Huanlian Investment Consulting (Guangzhou) Co., Ltd. in the name of buying and selling foreign exchange, and each person was cheated 14000 yuan.

Yulin police immediately set up a task force to conduct investigations. On March 3 1, the police successfully arrested three suspects who tried to escape at Shanghai Pudong Airport. Later, three suspects were arrested in Vietnam and Guangzhou. Other relevant suspects are still in pursuit.

The police initially found out that on October 20 171October 3 1 day, the gang set up the Yulin branch of Huanlian Investment Company in Yulin, and used the self-manipulated false trading platform to trick people into investing, implement fraud and achieve high returns. According to incomplete statistics, Huanlian Yulin Branch has more than 3,000 registered members, involving more than 50 million yuan.

In late March of this year, the capital chain of the trading platform was abnormal. Realizing that the crime might be exposed, the gang closed the platform on March 28 and fled with the money. During the escape, the stolen goods were also divided, and each person was divided into 500,000 to 2 million.

The task force investigated and controlled more than 3,000 bank accounts involved in the case according to law, and obtained hundreds of thousands of running water data. The funds involved in the case have been frozen by 7 1 10000 yuan according to law, and the illegal money involved in the case has been detained by 77,600 yuan, HK$ 1 90,000 yuan and US$ 3,868 yuan, and the suspect's house involved in the case has been detained by1set. At present, the investigation is still in progress.

People's Daily Online-Police in Yulin, Guangxi, cracked a huge fund-raising fraud case of more than 50 million yuan.