The value of stolen property is 654.38 million yuan, which is huge. He has been suspected of theft and should be sentenced to fixed-term imprisonment of not less than three years but not more than ten years.

Article 1 of the Interpretation of the Supreme People's Court and the Supreme People's Procuratorate on Several Issues Concerning the Application of Laws in Handling Criminal Cases of Theft stipulates that those who steal public or private property in the amount of 1,000 to 3,000 yuan, 30,000 to 100,000 yuan and 300,000 to 500,000 yuan shall be deemed as "large amount", "huge amount" and "extremely huge amount" as stipulated in Article 264 of the Criminal Law.

Article 264 of the Criminal Law stipulates: "Whoever steals public or private property in a relatively large amount, or repeatedly steals, burglary, armed theft or pickpocketing, shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or public surveillance, and shall also or 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 particularly 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 confiscated. "