Legal basis: Article 266 of the Criminal Law of People's Republic of China (PRC) defrauds public or private property, and if the amount is relatively large, he 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 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 or confiscated. Where there are other provisions in this Law, such provisions shall prevail.
Article 171 of the Civil Law: If an actor still acts as an agent without the power of agency, beyond the power of agency or after the termination of the power of agency, it will have no effect on the principal without ratification by the principal.
The counterpart may urge the principal to ratify it within 30 days from the date of receiving the notice. If the trustor fails to declare it, it shall be deemed as refusal to ratify it. Before the act committed by the actor is ratified, the bona fide counterpart has the right to revoke it. Revocation shall be made by notice. If the act committed by the actor is not ratified, the bona fide counterpart has the right to demand the actor to perform the debt or demand the actor to compensate for the damage he has suffered. However, the scope of compensation shall not exceed the benefits that the counterpart can obtain when the principal ratifies.
If the counterpart knows or should know that the actor has no right to act as an agent, the counterpart and the actor shall bear the responsibility according to their respective faults.