Illegal fund-raising, illegal financing, etc. According to the relevant laws and regulations, it is not illegal for private equity funds to issue loans, but if they violate the relevant laws and regulations, they may constitute illegal crimes. Private equity funds may involve illegal fund-raising, illegal financing, fraud, money laundering and other acts, all of which are illegal and criminal acts. Therefore, private equity funds must abide by relevant laws and regulations and operate legally and in compliance when issuing loans.