The crime of fraud refers to the act of defrauding large amounts of public or private property by fabricating facts or concealing the truth for the purpose of illegal possession.
Criminal Law: Article 266 Whoever defrauds 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 there are other serious circumstances 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 three years and not more than ten years, and shall also be fined; if the amount is particularly huge or there are other particularly serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than ten years or life imprisonment, and shall also be fined or his property shall be confiscated. If this law provides otherwise, such provisions shall prevail.
The "Interpretations of the Supreme People's Court and the Supreme People's Procuratorate on Several Issues Concerning the Specific Application of Laws in Handling Criminal Cases of Fraud" stipulates that the amount of defrauding public or private property is between 3,000 yuan and 10,000 yuan, and between 30,000 yuan and 10,000 yuan. Those exceeding RMB 10,000 and RMB 500,000 are respectively deemed to be "relatively large amounts", "huge amounts" and "especially huge amounts" as stipulated in Article 266 of the Criminal Law.
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 of the region, jointly study and determine the specific amount standard implemented in the region within the amount specified in the preceding paragraph, and report it to the highest level. The People's Court and the Supreme People's Procuratorate shall file the case.