Legal Analysis: On July 30, according to the news released by Ping An Taiyuan, on July 29 -30, 2020, the Intermediate People's Court of Taiyuan City, Shanxi Province held a public hearing to hear the case of the defendants Hao Xiaohai, Hao Yali, Hao Xiaodong and Jin committing fund-raising fraud through remote video trial. Taiyuan People's Procuratorate sent personnel to appear in court to support public prosecution. Defendants Hao Xiaohai, Hao Yali, Hao Xiaodong and Jin participated in the lawsuit through remote video. Defenders, representatives of fund-raising participants and entrusted agents of the three defendants attended the lawsuit in court, which was broadcast live on China Trial Open Network. Finally, the court announced an adjournment and will decide on another day.

Legal basis: Criminal Law of People's Republic of China (PRC).

Article 176 Whoever illegally absorbs public deposits or absorbs public deposits in disguised form, thus disrupting the financial order, shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention 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 and fined. If a unit commits the crime mentioned in the preceding paragraph, it shall be fined, and the directly responsible person in charge and other directly responsible personnel shall be punished in accordance with the provisions of the preceding paragraph. Whoever commits the acts mentioned in the preceding two paragraphs and actively returns the stolen goods before bringing a public prosecution to reduce the occurrence of damage results may be given a lighter or mitigated punishment.

Article 192 Whoever illegally raises funds by fraudulent means for the purpose of illegal possession, if 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 serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than seven years or life imprisonment, and shall also be fined or confiscated. If a unit commits the crime mentioned in the preceding paragraph, it shall be fined, and the directly responsible person in charge and other directly responsible personnel shall be punished in accordance with the provisions of the preceding paragraph.