Legal analysis: On May 27th, Shenzhen People's Procuratorate announced a serious telecommunication network fraud case. It turns out that from April 20 15 to February 20 19, Liu Mouliang and others registered and established a number of companies, set up offices in Tianhe District of Guangzhou (and later set up overseas business departments in Malaysia to escape judicial attacks), and recruited employees to form criminal groups. The criminal group illegally built a false futures trading platform by itself, and by setting parameters such as high leverage, high margin, high margin and interest rate, it tricked the victims into speculating the so-called Shanghai and Shenzhen 300 Index, Hang Seng Index, Gold Index, US Dollar Index, Oil Index, Natural Gas and other products, and implemented telecommunication network fraud.

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

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 solely be sentenced to fixed-term imprisonment of not less than three years but not more than 10 years, and shall also 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.

Article 192 Whoever illegally raises funds by fraudulent means for the purpose of illegal possession shall be sentenced to fixed-term imprisonment of not less than three years but not more than seven years; 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.