Anyone who uses a fake house purchase contract to defraud a bank loan is suspected of defrauding a loan. The penalty for this crime is fixed-term imprisonment of not more than three years or criminal detention, with or without a fine; Whoever causes particularly heavy losses or has other particularly serious circumstances shall be sentenced to fixed-term imprisonment of not less than three years but not more than seven years and shall also be fined.

legal ground

One of the 175th articles of the Criminal Law

Where loans, bill acceptance, letters of credit, guarantees, etc. are obtained. Whoever causes heavy losses to banks or other financial institutions shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention and shall also, or shall only, be fined; Whoever causes particularly heavy losses to banks or other financial institutions or has other particularly serious circumstances shall be sentenced to fixed-term imprisonment of not less than three years but not more than seven years and shall also be fined.

If a unit commits the crime mentioned in the preceding paragraph, it shall be fined, and the persons who are directly in charge and other persons who are directly responsible shall be punished in accordance with the provisions of the preceding paragraph.