All Agencies, Latest Month All Agencies, Previous FY Geographic Distribution
of Convictions for
All Agencies, FY 2013
Prosecution Report
Not Available
1 Prosecution
in Fiscal Year 2013
Conviction Report
Not Available
1 Conviction
in Fiscal Year 2013

CITE

    18 USC Sec. 493                                             01/05/2009

EXPCITE

    TITLE 18 - CRIMES AND CRIMINAL PROCEDURE
    PART I - CRIMES
    CHAPTER 25 - COUNTERFEITING AND FORGERY

HEAD

    Sec. 493. Bonds and obligations of certain lending agencies

STATUTE

      Whoever falsely makes, forges, counterfeits or alters any note,
    bond, debenture, coupon, obligation, instrument, or writing in
    imitation or purporting to be in imitation of, a note, bond,
    debenture, coupon, obligation, instrument or writing, issued by the
    Reconstruction Finance Corporation, Federal Deposit Insurance
    Corporation, National Credit Union Administration, Home Owners'
    Loan Corporation, Farm Credit Administration, Department of Housing
    and Urban Development, or any land bank, intermediate credit bank,
    insured credit union, bank for cooperatives or any lending,
    mortgage, insurance, credit or savings and loan corporation or
    association authorized or acting under the laws of the United
    States, shall be fined under this title or imprisoned not more than
    10 years, or both.
      Whoever passes, utters, or publishes, or attempts to pass, utter
    or publish any note, bond, debenture, coupon, obligation,
    instrument or document knowing the same to have been falsely made,
    forged, counterfeited or altered, contrary to the provisions of
    this section, shall be fined under this title or imprisoned not
    more than 10 years, or both.

SOURCE

    (June 25, 1948, ch. 645, 62 Stat. 711; Pub. L. 87-353, Sec. 3(p),
    Oct. 4, 1961, 75 Stat. 774; Pub. L. 90-19, Sec. 24(a), May 25,
    1967, 81 Stat. 27; Pub. L. 91-468, Sec. 3, Oct. 19, 1970, 84 Stat.
    1016; Pub. L. 103-322, title XXXIII, Sec. 330016(1)(L), Sept. 13,
    1994, 108 Stat. 2147; Pub. L. 107-56, title III, Sec. 374(i), Oct.
    26, 2001, 115 Stat. 341.)

HISTORICAL AND REVISION NOTES

      Based on sections 264(t), 982, 1126, 1138d(b), 1316, 1441(b),
    1467(b), 1731(b) of title 12, U.S.C., 1940 ed., Banks and Banking,
    and section 616(b) of title 15, U.S.C. 1940 ed., Commerce and Trade
    (Dec. 23, 1913, ch. 6, Sec. 12B(t), as added June 16, 1933, ch. 89,
    Sec. 8, 48 Stat. 178, and amended Aug. 23, 1935, ch. 614, Sec. 101,
    49 Stat. 684; July 17, 1916, ch. 245, Sec. 31 (second paragraph),
    39 Stat. 383; July 17, 1916, ch. 245, Sec. 211(f), as added Mar. 4,
    1923, ch. 252, title I, Sec. 2, 42 Stat. 1460; Mar. 4, 1923, ch.
    252, title II, Sec. 216(f), 42 Stat. 1472; Jan. 22, 1932, ch. 8,
    Sec. 16(b), 47 Stat. 11; July 22, 1932, ch. 522, Sec. 21(b), 47
    Stat. 738; June 13, 1933, ch. 64, Sec. 8(b), 48 Stat. 134; June 16,
    1933, ch. 98, Sec. 64(b), 48 Stat. 268; June 27, 1934, ch. 847,
    Sec. 512(b), 48 Stat. 1265).
      Each of the nine sections from which this section was derived
    contained similar provisions with respect to one or more named
    agencies or corporations. The punishment was the same in each
    section except that in sections 982, 1126, and 1316 of title 12,
    U.S.C., 1940 ed., Banks and Banking, the maximum fine was $5,000.
    This section adopts the $10,000 maximum fine provided in the other
    six former sections.
      This section condenses and simplifies the form of the former
    sections without change of substance, except where the maximum fine
    differs as noted above.
      The enumeration of "note, bond, debenture, coupon, obligation,
    instrument, or writing" does not occur in any one of the original
    sections but is an adequate enumeration of the instruments
    mentioned in each.
      Certain specific agencies are enumerated by name as are "land
    bank, intermediate credit bank, bank for cooperatives," but the
    phrase "or any lending, mortgage, insurance, credit, or savings and
    loan corporation or association" was used to embrace the following:
    National Farm Loan Association, Federal Savings and Loan Insurance
    Corporation, Federal Savings and Loan Associations, National
    Agricultural Credit Corporation, Production Credit Corporations,
    Production Credit Associations, Home Loan Banks, National Mortgage
    Associations, and Central Bank for Cooperatives, Regional
    Agricultural Credit Corporation, or any instrumentalities created
    for similar purposes.
      Reference to persons causing, procuring, aiding or assisting was
    omitted as unnecessary, such persons being principals by section 2
    of this title.
      The section was written in two paragraphs; the first denouncing
    forgery, counterfeiting, and altering; the second, passing,
    uttering, and publishing. This arrangement, together with the
    simplified style of the rewritten section, will permit the repeal
    of similar provisions in at least nine complicated sections now in
    title 12, U.S.C., 1940 ed., Banks and Banking.
      Section 1138d(f) of title 12, U.S.C., 1940 ed., Banks and
    Banking, was omitted from this revision and recommended for repeal.
    It provides as follows: "Whoever conspires with another to
    accomplish any of the acts made unlawful by the preceding
    provisions of this section shall, on conviction thereof, be subject
    to the same fine or imprisonment, or both, as is applicable in the
    case of conviction for doing such unlawful act."
      The only case construing such subsection (f) is United States v.
    Halbrook, D.C. Mo. 1941, 36 F. Supp. 345, in which the District
    Judge said by way of obiter dictum in a footnote that "Under this
    section no overt act need be shown as is true in the case of a
    prosecution under section 37 of the Criminal Code", now section 371
    of this title.
      Indeed the indictment upon which Halbrook was acquitted was drawn
    under section 88 of title 18, U.S.C., 1940 ed., now section 371 of
    this title, which required allegation and proof of an overt act and
    provided punishment by fine of not more than $10,000, or
    imprisonment for not more than 2 years, or both. The second
    indictment charged only substantive violations and involved neither
    conspiracy section.
      It will be noted that section 1138d(f) of title 12, U.S.C., 1940
    ed., Banks and Banking, applies in terms only to the Farm Credit
    Administration, intermediate credit banks, Federal Farm Mortgage
    Corporation, and by reference to the banks for cooperatives,
    Production Credit Associations and Production Credit Corporations,
    and is not applicable to land banks, loan associations, Federal
    Housing Administration, Home Owners' Loan Corporation, or other
    institutions.
      It is also noted that in the only reported case involving this
    section, the United States attorney drew his conspiracy indictment
    not under section 1138d(f) of title 12, U.S.C., 1940 ed., Banks and
    Banking, but under section 88 of title 18, U.S.C., 1940 ed., which
    is now section 371 of this title, indicating considerable doubt as
    to the scope and effect of section 1138d(f) of said title 12,
    U.S.C., 1940 ed., Banks and Banking.
      There is no sound reason for differentiating between types of
    credit, insurance, banking and lending agencies in the punishment
    of conspiracy or in the requirement as to proof of overt acts.
    Since conspiracies involving offenses equally serious such as
    obstruction of justice, bribery, embezzlements, counterfeiting and
    false statements and offenses against the Treasury of the United
    States as well as the Federal Deposit Insurance Corporation and the
    Home Owners' Loan Corporation are punishable under the general
    conspiracy statute, the same rule should be applied to lesser
    agencies.
      The blanket provision for punishment of "any person who willfully
    violates any other provision of this Act" was omitted as useless,
    in view of the specific provisions for penalties elsewhere in the
    Act.
                                AMENDMENTS
      2001 - Pub. L. 107-56 substituted "10 years" for "five years" in
    two places.
      1994 - Pub. L. 103-322 substituted "fined under this title" for
    "fined not more than $10,000" in two places.
      1970 - Pub. L. 91-468 inserted National Credit Union
    Administration and insured credit unions in enumeration of lending
    agencies.
      1967 - Pub. L. 90-19 substituted "Department of Housing and Urban
    Development" for "Federal Housing Administration".
      1961 - Pub. L. 87-353 struck out reference to the Federal Farm
    Mortgage Corporation.

EXCEPTIONS FROM TRANSFER OF FUNCTIONS

      Functions of corporations of Department of Agriculture, boards of
    directors and officers of such corporations; Advisory Board of
    Commodity Credit Corporation; and Farm Credit Administration or any
    agency, officer or entity of, under, or subject to supervision of
    said Administration excepted from functions of officers, agencies,
    and employees transferred to Secretary of Agriculture by Reorg.
    Plan No. 2 of 1953, Sec. 1, eff. June 4, 1953, 18 F.R. 3219, 67
    Stat. 633, set out in the Appendix to Title 5, Government
    Organization and Employees.
              ABOLITION OF RECONSTRUCTION FINANCE CORPORATION
      Section 6(a) of Reorg. Plan No. 1 of 1957, eff. June 30, 1957, 22
    F.R. 4633, 71 Stat. 647, set out in the Appendix to Title 5,
    Government Organization and Employees, abolished the Reconstruction
    Finance Corporation.
                ABOLITION OF HOME OWNERS' LOAN CORPORATION
      For dissolution and abolition of Home Owners' Loan Corporation,
    referred to in this section, by act June 30, 1953, ch. 170, Sec.
    21, 67 Stat. 126, see note set out under section 1463 of Title 12,
    Banks and Banking.

FARM CREDIT ADMINISTRATION

      Establishment of Farm Credit Administration as independent
    agency, and other changes in status, function, etc., see Ex. Ord.
    No. 6084 set out prec. section 2241 of Title 12, Banks and Banking.
    See also section 2001 et seq. of Title 12.
Customized queries of TRAC's data TRAC FBI Web Site TRAC DEA Web Site TRAC Immigration Web Site TRAC DHS Web Site TRAC IRS Web Site TRAC ATF Web Site TRAC Reports Web Site
Transactional Records Access Clearinghouse, Syracuse University
Copyright 2010
TRAC Web Site