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Is it illegal to invest in sparrow brand to raise funds?
Yes According to the inquiry and news network, Kuipai Investment transferred the funds of individual fund products to the third-party accounts of the company's related parties without authorization and misappropriated the fund property during the private equity business. Violation of the provisions of Item (4) of Article 23 of the Interim Measures for the Supervision and Administration of Private Investment Funds (OrderNo. CSRC 105), that is, "embezzlement and misappropriation of fund property".
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