42 U.S. Code § 3215 - Penalties

(a) False statements; security overvaluation
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;
shall be fined under title 18, imprisoned not more than 5 years, or both.
(b) Embezzlement and fraud-related crimes
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;
shall be fined under title 18, imprisoned not more than 5 years, or both.


(Pub. L. 89–136, title VI, § 605, as added Pub. L. 105–393, title I, § 102(a),Nov. 13, 1998, 112 Stat. 3614.)
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).

The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.

The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013

An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.

42 USCDescription of ChangeSession YearPublic LawStatutes at Large


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