Title 15, Commerce and TradeRelease 119-73not60
§80a–36 Larceny and Embezzlement
Title 15 › Chapter 2D— INVESTMENT COMPANIES AND ADVISERS › Subchapter I— INVESTMENT COMPANIES › § 80a–36
Summary
Stealing or embezzling money, securities, or other assets of any registered investment company is a crime and carries federal penalties. A state court conviction or acquittal for the same acts prevents federal prosecution.
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 3, 2026
Release point: 119-73not60