Title 15 — Commerce and TradeRelease 119-73
§80a–36 Larceny and embezzlement
Title 15 › Chapter CHAPTER 2D— - INVESTMENT COMPANIES AND ADVISERS › Subchapter SUBCHAPTER I— - INVESTMENT COMPANIES › § 80a–36
Summary
Anyone who steals, takes without permission, uses for themselves, or embezzles money, securities, or other property from a registered investment company commits a crime and, if convicted, will face the penalties listed in section 80a–48 of this title. If a state court has already convicted or found the person not guilty for the same acts, that decision prevents a prosecution under this law for the same conduct.
Full Legal Text
Title 15, §80a–36
Commerce and Trade — Source: USLM XML via OLRC
Whoever steals, unlawfully abstracts, unlawfully and willfully converts to his own use or to the use of another, or embezzles any of the moneys, funds, securities, credits, property, or assets of any registered investment company shall be deemed guilty of a crime, and upon conviction thereof shall be subject to the penalties provided in section 80a–48 of this title. A judgment of conviction or acquittal on the merits under the laws of any State shall be a bar to any prosecution under this section for the same act or acts.
Reference
Citations & Metadata
Citation
15 U.S.C. § 80a–36
Title 15 — Commerce and Trade
Last Updated
Apr 6, 2026
Release point: 119-73