12 U.S.C. § 4224: Ineligibility to file valid…

Summary

A declaration is valid unless one of five things is true: it was filed by a current or former government worker who learned the information while doing their job; it was filed by someone who took part in the crime or fraud the declaration is about; it was filed by a bank insider who hid information during a bank exam or investigation when they had a duty to report it; it was filed by a close family member of the person being reported or by someone who might benefit from the award, as the Attorney General decides; or it names assets that have already been made public, unless the filer is the original source of the information. "Original source" means a person who directly and independently knows the facts and gave them to the government before they became public. If the Attorney General later finds a declaration invalid, or says it failed to follow the filing or disclosure rules, the Attorney General must notify the filer in writing and the filer loses the rights listed in sections 4225 and 4226.

Title 12, §4224

Banks and Banking, Source: USLM XML via OLRC

(a)In general

A declaration filed pursuant to section 4221 of this title and in accordance with section 4222 and 4223 of this title is valid unless—

(1)the declaration is filed by a current or former officer or employee of a Federal or State government agency or instrumentality who discovered or gathered the information in the declaration, in whole or in part, while acting within the course of the declarant’s government employment;

(2)the declaration is filed by a person who knowingly participated in the violation of section 1517 of title 18 or any of the sections of title 18 referred to in section 4201 of this title, or any other fraudulent conduct with respect to which the declaration is made;

(3)the declaration is filed by an institution-affiliated party (as defined in section 1813(u) of this title) who withheld information during the course of any bank examination or investigation authorized pursuant to section 1820 of this title which such party owed a fiduciary duty to disclose;

(4)the declaration is filed by a member of the immediate family of the individual whose activities are the subject of the declaration or where, in the discretion of the Attorney General, it appears the individual could benefit from the award; or

(5)the declaration identifies an asset or assets the nature, location, or possible recovery of which has been disclosed to a member of the public in a criminal, civil, or administrative proceeding, in a congressional, administrative, or Government Accountability Office report, hearing, audit or investigation, by any other government source, or by the news media, unless the person providing the declaration is the original source of the information.

(b)“Original source” defined

For the purposes of subsection (a)(5), the term “original source” means a person who has direct and independent knowledge of the information contained in the declaration and who voluntarily provided the information to the government prior to the disclosure.

(c)Notice of invalidity

If the Attorney General determines at any time that a declaration is invalid under this section, that a declaration fails to meet the requirements of section 4222 of this title, or that a declaration has been disclosed in violation of section 4223 of this title, the Attorney General shall notify the person who filed the declaration in writing that the declaration is invalid, and the declarant shall not enjoy any of the rights of the declarant listed in section 4225 or 4226 of this title.

Editorial Notes

Amendments

2004—Subsec. (a)(5). Pub. L. 108–271 substituted “Government Accountability Office” for “General Accounting Office”.

§4224 Ineligibility to File Valid Declarations

Summary

Title 12, §4224

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata