THE LEGAL BALANCE BETWEEN THE RIGHT TO FINANCIAL FREEDOM AND THE POWER OF CRIMINAL PUNISHMENT:TAKING ILLEGAL FUNDRAISING AS AN EXAMPLE  

自由融资权与刑罚权的法律平衡:以非法集资为例

作　　者：Zhong Zhiyong 钟志勇(Chongqing Technology and Business University Law School)

机构地区：[1]Chongqing Technology and Business University Law School

出　　处：《China Legal Science》2020年第2期32-63,共32页中国法学（英文版）

摘　　要：This paper will take illegal fundraising as an example and focus on the relationship between the right to financial freedom and the power of criminal punishment.This right originates from ownership theory,financial freedom in economics,and freedom of contract in law.However,using the power of criminal punishment against fundraising is the biggest threat to financial freedom.The real legitimacy for restricting the right to financial freedom is to protect unspecified investors from infringement and to prevent social risk.Therefore,we argue qualified investors to be defined as specified investors for a legal person,while lineal descendants or collateral relatives within three generations,employer and enterprises in which somebody invests as the specified for a natural person.We also argue for the adoption of the offense of illegal fundraising and that borrowing from or issuing securities to unspecified investors of over 50 or specified investors of more than 200 by a legal person should constitute a criminal offense.Borrowing from the unspecified of 200 participants or more by a natural person should also constitute a criminal offense.But a natural person borrowing from the specified and a legal person borrowing from or issuing securities to the first and second types of specified investors are excluded.本文以非法集资为例并聚焦于自由融资权与刑罚权之间的关系。自由融资权源于所有权理论、经济学上的金融自由和法学上的合同自由。然而,运用刑罚权打击集资是自由融资的最大威胁。政府限制自由融资权的真正合法性在于保护不特定投资者并预防社会风险。因此,建议将合格投资者界定为法人的特定投资者,将三代以内直系或旁系亲属、雇主和所投资企业界定为自然人的特定对象。同时,适用非法集资罪,将法人向50名以上非特定投资者或向200名以上特定投资者借贷或发行证券界定为犯罪,并将自然人向200名以上非特定对象借贷也界定为犯罪。但是,自然人向特定对象借贷和法人向第一类和第二类特定投资者借贷或发行证券例外。

关 键 词：非法集资 合同自由 刑罚权 特定对象 所有权理论 旁系亲属 借贷 经济学 

分 类 号：D914[政治法律—刑法学]