18 U.S.C. § 1032 — Concealment of assets from conservator,

Page 326 TITLE 18—CRIMES AND CRIMINAL PROCEDURE § 1032 § 1032. Concealment of assets from conservator, receiver, or liquidating agent Whoever— (1) knowingly conceals or endeavors to con- ceal an asset or property from the Federal De- posit Insurance Corporation, acting as conser- vator or receiver or in the Corporation’s cor- porate capacity with respect to any asset ac- quired or liability assumed by the Corporation under section 11, 12, or 13 of the Federal De- posit Insurance Act, any conservator ap- pointed by the Comptroller of the Currency, the Federal Deposit Insurance Corporation acting as receiver for a covered financial com- pany, in accordance with title II of the Dodd- Frank Wall Street Reform and Consumer Pro- tection Act, or the National Credit Union Ad- ministration Board, acting as conservator or liquidating agent; (2) corruptly impedes or endeavors to impede the functions of such Corporation, Board, or conservator; or (3) corruptly places or endeavors to place an asset or property beyond the reach of such Corporation, Board, or conservator, shall be fined under this title or imprisoned not more than 5 years, or both. (Added Pub. L. 101–647, title XXV, § 2501(a), Nov. 29, 1990, 104 Stat. 4859; amended Pub. L. 107–273, div. B, title IV, § 4002(b)(13), Nov. 2, 2002, 116 Stat. 1808; Pub. L. 111–203, title II, § 211(a), (b), title III, § 377(7), July 21, 2010, 124 Stat. 1514, 1569.) Editorial Notes REFERENCES IN TEXT Sections 11, 12, and 13 of the Federal Deposit Insur- ance Act, referred to in par. (1), are classified to sec- tions 1821, 1822, and 1823, respectively, of Title 12, Banks and Banking. The Dodd-Frank Wall Street Reform and Consumer Protection Act, referred to in par. (1), is Pub. L. 111–203, July 21, 2010, 124 Stat. 1376. Title II of the Act is classi- fied principally to subchapter II (§ 5381 et seq.) of chap- ter 53 of Title 12, Banks and Banking. For complete classification of this Act to the Code, see Short Title note set out under section 5301 of Title 12 and Tables. AMENDMENTS 2010—Pub. L. 111–203, § 211(b), struck out ‘‘of financial institution’’ after ‘‘agent’’ in section catchline. Par. (1). Pub. L. 111–203, § 377(7), struck out ‘‘the Reso- lution Trust Corporation,’’ after ‘‘Federal Deposit In- surance Act,’’ and ‘‘or the Director of the Office of Thrift Supervision’’ after ‘‘Comptroller of the Cur- rency’’. Pub. L. 111–203, § 211(a), inserted ‘‘the Federal Deposit Insurance Corporation acting as receiver for a covered financial company, in accordance with title II of the Dodd-Frank Wall Street Reform and Consumer Protec- tion Act,’’ before ‘‘or the National Credit’’. 2002—Par. (1). Pub. L. 107–273 substituted ‘‘13’’ for ‘‘13,’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2010 AMENDMENT Amendment by section 211(a), (b) of Pub. L. 111–203 ef- fective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111–203, set out as an Effective Date note under section 5301 of Title 12, Banks and Banking. Amendment by section 377(7) of Pub. L. 111–203 effec- tive on the transfer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress. § 1033. Crimes by or affecting persons engaged in the business of insurance whose activities af- fect interstate commerce (a)(1) Whoever is engaged in the business of in- surance whose activities affect interstate com- merce and knowingly, with the intent to de- ceive, makes any false material statement or re- port or willfully and materially overvalues any land, property or security— (A) in connection with any financial reports or documents presented to any insurance regu- latory official or agency or an agent or exam- iner appointed by such official or agency to examine the affairs of such person, and (B) for the purpose of influencing the actions of such official or agency or such an appointed agent or examiner, shall be punished as provided in paragraph (2). (2) The punishment for an offense under para- graph (1) is a fine as established under this title or imprisonment for not more than 10 years, or both, except that the term of imprisonment shall be not more than 15 years if the statement or report or overvaluing of land, property, or se- curity jeopardized the safety and soundness of an insurer and was a significant cause of such insurer being placed in conservation, rehabilita- tion, or liquidation by an appropriate court. (b)(1) Whoever— (A) acting as, or being an officer, director, agent, or employee of, any person engaged in the business of insurance whose activities af- fect interstate commerce, or (B) is engaged in the business of insurance whose activities affect interstate commerce or is involved (other than as an insured or bene- ficiary under a policy of insurance) in a trans- action relating to the conduct of affairs of such a business, willfully embezzles, abstracts, purloins, or mis- appropriates any of the moneys, funds, pre- miums, credits, or other property of such person so engaged shall be punished as provided in paragraph (2). (2) The punishment for an offense under para- graph (1) is a fine as provided under this title or imprisonment for not more than 10 years, or both, except that if such embezzlement, abstrac- tion, purloining, or misappropriation described in paragraph (1) jeopardized the safety and soundness of an insurer and was a significant cause of such insurer being placed in conserva- tion, rehabilitation, or liquidation by an appro- priate court, such imprisonment shall be not more than 15 years. If the amount or value so embezzled, abstracted, purloined, or misappro- priated does not exceed $5,000, whoever violates paragraph (1) shall be fined as provided in this title or imprisoned not more than one year, or both. (c)(1) Whoever is engaged in the business of in- surance and whose activities affect interstate commerce or is involved (other than as an in- sured or beneficiary under a policy of insurance) in a transaction relating to the conduct of af-