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18 U.S.C. § 153 — Embezzlement against estate

submitted 78 years ago by ch. 645 to r/title-18-CRIMES-AND-CRIMINAL-PROCEDURE · 124 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law makes it a federal crime to steal from a bankruptcy estate. Someone who knowingly and fraudulently takes, spends, or transfers estate property, or destroys estate documents, can be fined and imprisoned up to five years. The crime applies only to people who had access to the estate through their role in administering it, such as a trustee, attorney, or court-appointed officer.

(a) Offense. A person described in subsection (b) commits a crime if they knowingly and fraudulently take estate property for their own use, embezzle it, spend it, or transfer it — or if they secretly get rid of or destroy any document belonging to a debtor's estate. The penalty is a fine, up to 5 years in prison, or both. (b) Person to whom this section applies. This section applies to someone who has access to the estate's property or documents because of their role in administering the estate — as a trustee, custodian, marshal, attorney, or other court officer, or as an agent, employee, or other person that officer hired to do work for the estate.
the actual law source: uscode.house.gov ↗public domain
(a)Offense.—

A person described in subsection (b) who knowingly and fraudulently appropriates to the person’s own use, embezzles, spends, or transfers any property or secretes or destroys any document belonging to the estate of a debtor shall be fined under this title, imprisoned not more than 5 years, or both.

(b)Person to Whom Section Applies.—

A person described in this subsection is one who has access to property or documents belonging to an estate by virtue of the person’s participation in the administration of the estate as a trustee, custodian, marshal, attorney, or other officer of the court or as an agent, employee, or other person engaged by such an officer to perform a service with respect to the estate.

Source credit: (June 25, 1948, ch. 645, 62 Stat. 690; Pub. L. 95–598, title III, § 314(a)(1), (d)(1), (2), Nov. 6, 1978, 92 Stat. 2676, 2677; Pub. L. 103–322, title XXXIII, § 330016(1)(K), Sept. 13, 1994, 108 Stat. 2147; Pub. L. 103–394, title III, § 312(a)(1)(A), Oct. 22, 1994, 108 Stat. 4139; Pub. L. 104–294, title VI, § 601(a)(1), Oct. 11, 1996, 110 Stat. 3497.)

history & why it existsrecord from the source credit
  • 1948Enacted · Act of June 25, 1948, ch. 645 · 62 Stat. 690
  • 1978Amended · Pub. L. 95-598 · 92 Stat. 2676, 2677
  • 1994Amended · Pub. L. 103-322 · 108 Stat. 2147
  • 1994Amended · Pub. L. 103-394 · 108 Stat. 4139
  • 1996Amended · Pub. L. 104-294 · 110 Stat. 3497

A history note hasn’t been published yet. The record shows enactment by ch. 645 on 1948-06-25.

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