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Fraud of more than 3,000 yuan constitutes a crime. 1. Whoever cheats from 3,000 yuan to 10,000 yuan 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. 2. Whoever cheats more than 30,000 yuan but less than 100,000 yuan, if the amount is huge or there are other serious circumstances, shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years, and shall also be fined. 3. Whoever cheats more than 500,000 yuan shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment, and shall also be fined or confiscated. Article 266 of the Criminal Law of People's Republic of China (PRC), Article 1 of the Interpretation of the Supreme People's Court and the Supreme People's Procuratorate on Several Issues Concerning the Specific Application of Laws in Handling Criminal Cases of Fraud.