Case playback:
In 2003 July, A, B formed the C company, as the legal representative. C company mainly engaged in security monitoring equipment integration, but the effect is not ideal. In 2003 October, C company purchased the plant to build 39 acres of industrial land, unfinished founded in 2005. In 2006 August, the United States of America D company acquisition, planning the United States listed unsuccessful; 2006 December, signed a framework agreement with E coke Association, ready to implement the project of security engineering of E Province, about 5000000000 yuan, but has not been approved; at the same time to E coke trading center, and the purchase price 130000000 yuan F buildings as a trading place, and payment will be the first paragraph 33500000 yuan. In order to raise funds, C company to cash investment, investment E coke trading center, invest in building F to customers, loans, cooperation electronic installation project name, perhaps in the 25% average annual rate of return, and the customer signed an investment for a period of one year or two years of "cooperation agreement", "repayment plan" investment, to attract customers. For the smooth development of illegal absorption of funds business, C company set up a customer service department, by G, H is responsible for the customers. The establishment of financial department, union, decyl responsible signed an investment agreement, and charge customers investment, issuing dividends, the return of principal, accounting work. During the period from 2003 February to 2008 April, C company to 3350 people illegally raised funds of 476000000 yuan. Among them, about 65000000 yuan into the project, the balance was used to pay commissions, the return of principal, pay dividends and illegal possession, principal of 320000000 yuan can not be returned. In 2009 December, the court sentenced C, A fund-raising fraud; illegal G, H, I, J absorbing deposit of the public.
Intensive analysis:
Venture capital financing, refers to the entrepreneurial process, the integration of capital (fund source) and outflow (funds) economic behavior. Venture capital financing is the venture capital movement beginning, also is the foundation of enterprise income distribution needs to. Enough capital scale, can guarantee the need of venture capital; financing structure reasonable, can reduce and avoid financial risks; properly match the financing methods, can reduce the cost of capital. Therefore, venture financing itself, it is only a link of venture capital movement, always but financing activities determine and influence the entrepreneurial whole capital movement. Entrepreneurs need according to different development stages of venture capital demand characteristics, combined with the business plan, the actual situation to choose suitable financing arrangement and the financing structure, financing cost minimum, maximum market constrained minimum, the market value of the financial target.
In general, entrepreneurs, venture partner personal capital and enterprise funds deposited with original, autonomy, low cost and risk resistance characteristics, but the scale is very limited. Entrepreneurs also need through certain channels, the use of certain methods, with a certain economic interest expense, raise funds from external funds holders, meet the needs of the operation and development of enterprises. To establish a new type of enterprises are generally lack of credit, management confusion, mortgage (guarantee) assets are insufficient, asymmetric information, risk management of higher intrinsic defects, resulting in difficulties in financing most entrepreneurs, financial gap, difficult to play the advantages of flexibility. The face of China's financial market development is not mature, the financial system structure of a single, narrow financing channels, financial institutions funds into single, regional development is not balanced and other external constraints, entrepreneurs, if not a profound understanding of China and its financing way choice points, it is difficult to achieve financial goals.
In this case, C company has development plans ambitious, but can not face up to their own stage of development and legal requirements, in the absence of bank support, unrealistic fantasy listing and financing. Thwarted, illegal fund-raising without permission, end up behind bars.
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