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Can you summarize 18 USC 1032?
FRAUD AND FALSE STATEMENTS > Concealment of assets from conservator, receiver, or liquidating agent
Short Summary
This legal provision, outlined in 1032 of the United States Code, pertains to the concealment of assets or property from various entities such as the Federal Deposit Insurance Corporation (FDIC), conservators appointed by the Comptroller of the Currency, the FDIC acting as receiver for a covered financial company, or the National Credit Union Administration Board. It prohibits individuals or entities from knowingly concealing or attempting to conceal assets or property from these entities. Additionally, corruptly impeding or endeavoring to impede the functions of the mentioned entities, as well as corruptly placing or endeavoring to place assets or property beyond their reach, is also prohibited. Violators of this provision may face fines, imprisonment, or both.
Whom does it apply to?
Individuals or entities who knowingly conceal or endeavor to conceal assets or property from the Federal Deposit Insurance Corporation (FDIC), acting as conservator or receiver, or in the Corporation's corporate capacity with respect to any asset acquired or liability assumed by the Corporation under section 11, 12, or 13 of the Federal Deposit Insurance Act; any conservator appointed by the Comptroller of the Currency; the FDIC acting as receiver for a covered financial company, in accordance with title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act; or the National Credit Union Administration Board, acting as conservator or liquidating agent.
What does it govern?
Concealment of assets from conservator, receiver, or liquidating agent
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
A fine under this title or imprisonment for not more than 5 years, or both.
Jurisdiction
U.S. Federal Government