The crime of contract fraud refers to the act of defrauding the other party's property in a large amount by means of fabricating facts or concealing the truth in the process of signing and performing a contract for the purpose of illegal possession.
Contract fraud can be reported to the police for handling first, and then reported to the procuratorate for prosecution after the public security organ files the case for investigation.
According to Article 224 of the Criminal Law, in one of the following circumstances, a large amount of money or property is defrauded from the other party in the process of signing and performing a contract for the purpose of illegal possession;
To be sentenced to fixed-term imprisonment of not more than three years or criminal detention and shall also, or shall only, 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 10 years and shall also be fined;
If the amount is especially huge or if there are other especially serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment and shall also be fined or sentenced to confiscation of property.
