Is it illegal for a company to borrow millions from the company as a legal person?

Legal analysis: As the legal representative of the company, whether it is misappropriation if it is approved by itself depends on the actual use of funds. If the loan is really used for the company's business, the loan is not repaid in time because the invoice is not reimbursed in time, and the funds are not used by individuals or lent for other reasonable reasons. This situation does not constitute misappropriation of funds. If the loan is only nominal and not used for the company's business, it is a typical crime of misappropriating funds. And it is a particularly huge amount of fixed-term imprisonment of not less than three years but not more than ten years.

Legal basis: Article 271 of the Criminal Law of People's Republic of China (PRC), any employee of a company, enterprise or other unit who takes advantage of his position and illegally takes the property of his unit for himself, if the amount is relatively large, shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention and shall also be fined; If the amount is huge, 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 especially huge, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment and fined. Personnel engaged in public service in state-owned companies, enterprises or other state-owned units and personnel appointed by state-owned companies, enterprises or other state-owned units to engage in public service in non-state-owned companies, enterprises or other units shall be convicted and punished in accordance with the provisions of Articles 382 and 383 of this Law.