The statutory punishment for this crime is: fixed-term imprisonment of not more than three years or criminal detention, and a fine or a single fine; 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. The crime of defrauding loans refers to the act of obtaining loans from banks or other financial institutions by deception, which causes heavy losses to banks or other financial institutions or has other serious circumstances.

legal ground

Criminal law of the people's Republic of China

Article 193 Whoever defrauds a bank or other financial institution of loans for the purpose of illegal possession under any of the following circumstances, if the amount is relatively large, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan; If the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than ten years, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan; 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 10 years or life imprisonment, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan or confiscated property:

(a) fabricating false reasons such as introducing funds and projects;

(two) the use of false economic contracts;

(3) using false documents;

(four) the use of false proof of property rights as a guarantee or repeated guarantee beyond the value of collateral;

(5) obtaining loans by other means.