China's law does not stipulate that private individuals can raise funds, but if private fund-raising violates the criminal law, they will bear criminal responsibility. Such as the crime of illegally absorbing public deposits and the crime of illegally raising funds.

The crime of illegally absorbing public deposits refers to the act of illegally absorbing public deposits or absorbing public deposits in disguised form in violation of national financial management regulations, disrupting financial order.

The crime of illegal fund-raising refers to illegal fund-raising by fraudulent means, and the amount is relatively large. The so-called illegal fund-raising refers to companies, enterprises, individuals or other organizations without approval. In violation of laws and regulations, through improper channels, to the public or collective fund-raising behavior. ?

According to the Criminal Code of People's Republic of China (PRC)

Article 176 Whoever illegally absorbs public deposits or absorbs public deposits in disguised form, thus disrupting 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 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 three years but not more than ten years and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan.

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.

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 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 ten years, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan; 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 not less than 50,000 yuan but not more than 500,000 yuan or confiscated property.