Depends on the situation: 1. An individual raises funds from relatives and friends by issuing stocks, bonds, lottery tickets, investment fund securities or other debt instruments without approval from relevant departments in accordance with legal procedures, and promises to do so within a certain period of time If the investor repays principal, interest, or returns in monetary, physical or other ways, it shall be illegal fund-raising; 2. If the above conditions are not met, it shall not be illegal fund-raising. Article 192 of the Criminal Law: Whoever uses fraudulent methods to illegally raise funds for the purpose of illegal possession, and the amount is relatively large, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan; If the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than 10 years, and a fine of not less than 50,000 yuan but not more than 500,000 yuan; if the amount is particularly huge or there are other particularly serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years but not more than life. Imprisonment, and a fine of not less than 50,000 yuan but not more than 500,000 yuan, or confiscation of property.