Federal · Title 15 — Commerce and Trade

15 U.S.C. § 80a: Larceny and embezzlement

Felony

What this law says, in plain English

This statute makes it a crime to steal, unlawfully convert, or embezzle money, funds, securities, or property belonging to a registered investment company. Penalties are specified in a separate sentencing statute.

Read the full statutory text

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.

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This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.