If the directly responsible person in charge of a state-owned company, enterprise or institution is defrauded in the process of signing and performing a contract due to serious irresponsibility, thus causing heavy losses to the national interests, he shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention; Whoever causes particularly heavy losses to the interests of the state shall be sentenced to fixed-term imprisonment of not less than three years but not more than seven years.
article 266 whoever defrauds public or private property in a relatively large amount shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or public surveillance and shall also, or shall only, be fined; If the amount is huge or 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 especially huge or there are other especially serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 1 years or life imprisonment, and shall also be fined or confiscated. Where there are other provisions in this Law, such provisions shall prevail.