Imprisonment of more than ten years or life imprisonment.
According to Article 266 of the Criminal Law, whoever commits the crime of fraud to defraud public or private property and the amount is relatively large shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or public surveillance, and shall also or solely be fined; if the amount is huge or If there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years, and shall also be fined.
If the amount is particularly huge or there are other particularly serious circumstances, the offender shall be sentenced to fixed-term imprisonment of not less than ten years or life imprisonment, and shall also be fined or have property confiscated. If this law provides otherwise, the provisions shall prevail.
According to the "Interpretations of the Supreme People's Procuratorate on Several Issues Concerning the Specific Application of Laws in Handling Criminal Cases of Fraud"
Article 1: Fraudulent public or private property worth three thousand yuan to more than ten thousand yuan, three If the amount exceeds 100,000 yuan to 100,000 yuan, or exceeds 500,000 yuan, it shall be deemed as "relatively large amount", "huge amount" or "especially huge amount" as stipulated in Article 266 of the Criminal Law respectively.
The higher people's courts and people's procuratorates of all provinces, autonomous regions, and municipalities directly under the Central Government may, based on the economic and social development conditions of the region, jointly study and determine the specific amount standards to be implemented in the region within the amount range specified in the preceding paragraph. Report to the Supreme People's Court and the Supreme People's Procuratorate for filing.
Extended information
Case: The boss of a Kunming engineering company defrauded 2 million in a fictitious project and was sentenced to 12 years in prison
Zhang Mou, the boss of Kunming Zhaoping Environmental Protection Engineering Co., Ltd. Together with Jin, the vice president of the company, he fabricated a resettlement and demolition project, and in the name of collecting "safety deposits", he defrauded others of more than 2 million yuan in the contract and squandered it all. Panlong Court sentenced Zhang to 12 years in prison for contract fraud and Jin to 7 years in prison for job embezzlement.
After the first-instance verdict, Zhang and Jin thought the sentence was too harsh and appealed. Recently, the Kunming Intermediate People's Court made a final judgment on this case: upholding the original judgment.
Zhang is the legal representative of Kunming Zhaoping Environmental Protection Engineering Co., Ltd. After verbal appointment, Jin became the company's deputy general manager. On December 6, 2012, Zhang made up the "Xishan District Tuanjie Street Office XX Resettlement and Demolition Project" and signed a "Demolition and Site Clearance Labor Construction Contract" and a supplementary agreement with the victim's unit, Guangdong XX Waste Materials Recycling Co., Ltd. , defrauding the victim’s unit security deposit of 1.5 million yuan.
On January 20 and February 25, 2013, Zhang fictitiously owned the earthwork project of XX Pavilion in Tuanjie Township, Xishan District, and signed a construction project labor contract and supplementary agreement with the victim Huang XX. The defendant Zhang defrauded the victim of RMB 530,000 in project deposits.
On December 7, 2012, the defendant Jin took advantage of his position as the deputy general manager of Kunming Zhaoping Environmental Protection Engineering Co., Ltd. to transfer a waste recycling company from Guangdong to Kunming Zhaoping Environmental Protection Engineering. Co., Ltd., 990,500 yuan (after deducting handling fees) of the 1.5 million yuan was remitted to his personal account through Yunnan XX Machinery Equipment Co., Ltd. and was squandered.
On August 12, 2015, the Panlong Court made a first-instance judgment that the defendant Zhang was guilty of contract fraud and was sentenced to 12 years in prison and fined 200,000 yuan. The defendant Jin was convicted of official embezzlement and was sentenced to 7 years in prison and ordered to have his property confiscated 100,000 yuan.
Reference materials: Wen County Public Security Bureau website - "Criminal Law"
Reference materials: China Court website - "Several specific application laws of the Supreme People's Court and the Supreme People's Procuratorate in handling criminal cases of fraud" Explanation of the problem"
Reference: People's Daily Online - The owner of a Kunming engineering company defrauded 2 million in a fictitious project and was sentenced to 12 years in prison