Binzhou: Defendant Wu Bin and others made a first-instance judgment in the case of committing fund-raising fraud and illegally absorbing deposits from the public

Qilu Network Lightning News on June 3 reporters learned from the Binzhou City Bincheng District People's Court that on June 2, the Bincheng District People's Court made a first-instance judgment in accordance with the law on the case of defendant Wu Bin and others accused by the public prosecution organ of committing fund-raising fraud and illegally absorbing public deposits. Defendant Wu Bin was sentenced to 13 years and 10 months in prison and fined 450,000 yuan for committing fund-raising fraud; the other defendants in this case were sentenced to fixed-term imprisonment ranging from five years and eight months to two years and six months for committing the crime of illegally absorbing deposits from the public, and ordered the defendant to return compensation for the losses of the participants in the fund-raising or to recover the illegal gains.

The case is currently pending appeal.