§3215 — Title 42 The Public Health and Welfare | U.S. Code

Summary

You can be punished for lying or cheating to get money or other help under this law. That includes knowingly giving false information or saying a security is worth more than it is to obtain financial aid, to influence what the Secretary does, or to get money, property, or anything valuable. Anyone who works with the Secretary to run this program can also be punished for stealing or misusing entrusted funds or property; for making false records or issuing financial papers without authority; for taking part in or benefiting from dishonest deals; or for sharing secret plans of the Secretary that could affect securities and then trading or investing because of that inside knowledge.

Title 42, §3215

The Public Health and Welfare — Source: USLM XML via OLRC

(a)A person that makes any statement that the person knows to be false, or willfully overvalues any security, for the purpose of—

(1)obtaining for the person or for any applicant any financial assistance under this chapter or any extension of the assistance by renewal, deferment, or action, or by any other means, or the acceptance, release, or substitution of security for the assistance;

(2)influencing in any manner the action of the Secretary; or

(3)obtaining money, property, or any thing of value, under this chapter;

(b)A person that is connected in any capacity with the Secretary in the administration of this chapter and that—

(1)embezzles, abstracts, purloins, or willfully misapplies any funds, securities, or other thing of value, that is pledged or otherwise entrusted to the person;

(2)with intent to defraud the Secretary or any other person or entity, or to deceive any officer, auditor, or examiner—

(A)makes any false entry in any book, report, or statement of or to the Secretary; or

(B)without being duly authorized, draws any order or issue, puts forth, or assigns any note, debenture, bond, or other obligation, or draft, bill of exchange, mortgage, judgment, or decree thereof;

(3)with intent to defraud, participates or shares in or receives directly or indirectly any money, profit, property, or benefit through any transaction, loan, grant, commission, contract, or any other act of the Secretary; or

(4)gives any unauthorized information concerning any future action or plan of the Secretary that might affect the value of securities, or having such knowledge invests or speculates, directly or indirectly, in the securities or property of any company or corporation receiving loans, grants, or other assistance from the Secretary;

Notes & Related Subsidiaries

Editorial Notes

Prior Provisions

A prior section 3215, Pub. L. 89–136, title VII, § 705, Aug. 26, 1965, 79 Stat. 573, related to separability of provisions, prior to repeal by Pub. L. 105–393, § 102(b)(3).

Statutory Notes and Related Subsidiaries

Effective Date

Section effective Feb. 11, 1999, see section 105 of Pub. L. 105–393, set out as a note under section 3121 of this title.

§3215 Penalties