本文的任務在於重新建構違法吸金罪的處罰基礎。為此,首先檢討本罪在實證法觀點下的處罰基礎,發現此一證立角度,一方面無法整合在銀行法以系統風險抗制為核心的任務設定中,另一方面更是本罪釋義學層次上見解紛雜的原因所在。至於本罪在部分學說觀點下的處罰基礎,雖然在理論上比較切合銀行法與證 券交易法的分工,但證券交易法中的刑事處罰,依然存在許多未解的正當性疑慮。基於以上反省,本文試圖為本罪處罰基礎,提出一個在刑法上較具正當性的說法:本罪的不法在於以詐欺這條侵害路徑侵害複數財產權。在此理解下,法律解釋者必須運用合目的性解釋方法,重新理解銀行法第 29 條之 1 的既有構成要件。
In order to prevent Ponzi Scheme, the authority in Taiwan regulates it by article 29-1 of Banking Act and assumes it as illegal deposit accepting. This thesis undertakes to dispute this practice and to reconstruct the basis of criminalizing for such crime. To this end, we first reviewed the justification provided by legislators. We found that this approach of criminalizing is incompatible with the task setting of banking act, which is to counter systemic risks arose in the financial market, on the other hand, it is also the reason for the divergent views on the interpretation of this crime. Although the basis of criminalization under some theoretical viewpoints conforms with financial regulation theory, there are still some unsolved legitimacy problem regarding offenses in the Security and Exchange Law. Based on the reflection above, the author attempts to exemplify that the wrongfulness of Ponzi Scheme is its attack on others property rights. Under this viewpoint, legal interpreters should use teleological interpretation method to re-understand the element of the crime.