Legal basis: Article 266 of the Criminal Law of People's Republic of China (PRC) refers to the act of fabricating facts or concealing the truth for the purpose of illegal possession, and defrauding a large amount of public or private property. Whoever commits this crime is sentenced to public surveillance, criminal detention, fixed-term imprisonment, life imprisonment, death penalty and other principal punishments according to the amount of fraud, and is also fined or confiscated of personal property and other supplementary punishments, but the victim is not ordered to make restitution for economic losses.