Core Points - The court in Huai'an City has sentenced a defendant to seven years in prison for illegal fundraising, involving over 110,000 investors and a total investment amount exceeding 48 million yuan, with losses amounting to 44 million yuan [1] - Since 2020, the Huai'an City Qingjiangpu District Court has adjudicated 39 illegal fundraising criminal cases involving 61 individuals, with a total amount exceeding 1.3 billion yuan [2] Summary by Sections Illegal Fundraising Cases - Illegal fundraising is described as an "economic tumor" that erodes public property and disrupts financial order, often affecting families' savings for retirement, medical expenses, and entrepreneurship [2] - The court has observed a trend of corporate-style operations and concealed criminal methods in recent illegal fundraising cases, complicating the tracing of funds and recovery of losses [2] Court's Actions and Results - A specialized trial team has been established to enhance the efficiency and quality of case adjudication, with no cases being sent back for retrial or re-judgment in the past five years [2] - The court has imposed sentences on 61 defendants since 2020, with 17 receiving prison terms of over three years and 44 receiving terms of three years or less, totaling 46 individuals sentenced to actual imprisonment [2] Recovery Efforts - The court collaborates with police and prosecution to investigate the sources and destinations of involved assets, establishing a special investigation phase during trials to facilitate asset recovery [5] - Since 2020, over 30 million yuan has been recovered for participants in illegal fundraising schemes, with three organized compensation ceremonies held [5] - The court emphasizes the importance of public awareness regarding high-return promises to prevent falling into illegal fundraising traps [5]

Core Viewpoint - The case of illegal fundraising led by Zhou Zhifeng and others highlights significant issues in financial regulation and the severe consequences of fraudulent activities in the financial sector, resulting in substantial losses for investors [1][3]. Group 1: Case Details - Zhou Zhifeng was sentenced to life imprisonment for fundraising fraud and money laundering, while co-defendants Wang Changdong and Lu Hong received 16 and 14 years respectively, along with fines [1]. - The defendants operated under the name "Shanhai Group," falsely claiming substantial assets and annual revenues of several hundred million yuan to attract investments [1]. - From September 1, 2015, to August 11, 2023, the group illegally raised over 24.419 billion yuan from participants [1]. Group 2: Legal and Financial Implications - The court emphasized that the illegal fundraising activities severely disrupted the national financial management order and caused significant financial losses to participants across the country [1]. - Following the verdict, law enforcement initiated asset recovery efforts targeting funds, stocks, real estate, and vehicles linked to the defendants, with plans to return recovered assets to the victims after the judgment becomes effective [3].

Core Viewpoint - The court has sentenced Zhou Zhifeng and others for illegal fundraising and money laundering, highlighting the severe disruption to the financial management order in the country and the significant financial losses incurred by participants [1][2]. Group 1: Case Details - Zhou Zhifeng was sentenced to life imprisonment for fundraising fraud and money laundering, while Wang Changdong and Lu Hong received 16 and 14 years of imprisonment respectively, along with fines [1]. - The defendants operated under the name "Shanhai Group," falsely claiming substantial assets and annual production value of several hundred million yuan to attract investments [1]. - From September 1, 2015, to August 11, 2023, the group illegally raised over 24.419 billion yuan from participants [1]. Group 2: Legal Proceedings and Asset Recovery - Following the arrest of the defendants, law enforcement initiated asset recovery efforts targeting funds, stocks, equity, real estate, and vehicles related to the case [2]. - The recovered assets will be returned to the participants after the judgment becomes effective [2].