§ 418 — Cheating with knowledge that wrongful loss may be thereby caused to a person whose interest the offender is bound to protect

418. Whoever cheats with the knowledge that he is likely thereby to cause wrongful loss to a person whose interest, in the transaction to which the cheating relates, he was bound either by law or by a legal contract to protect shall be punished with imprisonment for a term which may extend to 5 years, or with fine, or with both.