Online lending is not going to jail. Peer-to-peer lending is a civil act. Only when the borrower brings a lawsuit to the court and the other party refuses to execute the judgment or ruling of the people's court, if the circumstances are serious, it will constitute a crime and need to be sentenced. The legitimacy of online platform loans depends on the annual interest. Private lending with an annual interest rate of more than 24% is not protected by law, and loan contracts with an annual interest rate of more than 36% are invalid. The electronic operation of private lending has moved the traditional private lending business to the network platform. In essence, there is no essential change in the subject of p2p, whether it is the borrower or the investor, or the original formula or the original taste. The platform acts as an introduction, so p2p is to internetize offline behavior.
Legal basis:
Article 313 of the Criminal Law of People's Republic of China (PRC) refuses to execute the judgment or ruling of the people's court, and if the circumstances are serious, he shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or fine; If the circumstances are especially serious, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than seven years and shall also be fined. If a unit commits the crime mentioned in the preceding paragraph, it shall be fined, and the directly responsible person in charge and other directly responsible personnel shall be punished in accordance with the provisions of the preceding paragraph.
Derivative problem:
Legal determination of non-repayment of online loans
1. Disputes between ordinary borrowers and lenders are generally civil disputes. In the face of overdue repayment by others, lenders can directly sue through legal channels to safeguard their legitimate rights and interests. When defending rights through civil litigation, the parties can not only claim the fact of arrears, but also claim overdue repayment interest and agreed interest, but the agreed interest cannot be too high, and the agreed interest supported by general law is 24% per annum. When the court hears a case, even if the defendant does not appear in court to participate in the lawsuit or respond to the lawsuit, the court can directly hear the case by default.
2. After the borrower's claim is upheld, if the defendant still fails to pay the determined amount within the time stipulated in the judgment, the applicant may apply to the court for enforcement according to the effective documents. In the execution stage, if the defendant still fails to perform the obligations stipulated in the effective document, he will be included in the list of untrustworthy people. If the circumstances are serious, it shall be punished by refusing to perform the judgment or ruling. This kind of crime belongs to the content of criminal law. The violation of this crime is not judged by the specific amount of unrealized money, but is confirmed according to the specific situation and cooperation of the executed person. Therefore, in this case, civil proceedings may lead to criminal proceedings. For the crime of refusing to execute the judgment, the punishment is greater than fixed-term imprisonment, so punishing this kind of crime may also face fixed-term imprisonment.