§1348 — Title 18 Crimes and Criminal Procedure | U.S. Code

Summary

Makes it a crime to knowingly carry out or try to carry out a plan to cheat others in connection with commodities to be delivered later, options on them, or certain registered securities (15 U.S.C. 78l; 78o(d)). It also forbids getting money or property by lies or false promises when buying or selling those items.

Title 18, §1348

Crimes and Criminal Procedure — Source: USLM XML via OLRC

Whoever knowingly executes, or attempts to execute, a scheme or artifice—

(1)to defraud any person in connection with any commodity for future delivery, or any option on a commodity for future delivery, or any security of an issuer with a class of securities registered under section 12 of the Securities Exchange Act of 1934 (15 U.S.C. 78l) or that is required to file reports under section 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78o(d)); or

(2)to obtain, by means of false or fraudulent pretenses, representations, or promises, any money or property in connection with the purchase or sale of any commodity for future delivery, or any option on a commodity for future delivery, or any security of an issuer with a class of securities registered under section 12 of the Securities Exchange Act of 1934 (15 U.S.C. 78l) or that is required to file reports under section 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78o(d));

Notes & Related Subsidiaries

Editorial Notes

Amendments

2009—Pub. L. 111–21, § 2(e)(1)(A), inserted “and commodities” before “fraud” in section catchline. Pars. (1), (2). Pub. L. 111–21, § 2(e)(1)(B), (C), inserted “any commodity for future delivery, or any option on a commodity for future delivery, or” before “any security”.

§1348 Securities and commodities fraud

Summary

Title 18, §1348

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata