15 U.S.C. § 714m

Crimes and offenses

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(a) False statements; overvaluation of securities

Whoever makes any statement knowing it to be false, or whoever willfully overvalues any security, for the purpose of influencing in any way the action of the Corporation, or for the purpose of obtaining for himself or another, money, property, or anything of value, under this subchapter, or under any other Act applicable to the Corporation, shall, upon conviction thereof, be punished by a fine of not more than $10,000 or by imprisonment by not more than five years, or both.

(b) Embezzlement, etc.; false entries; fraudulent issue of obligations of Corporation

Whoever, being connected in any capacity with the Corporation or any of its programs, (i) embezzles, abstracts, purloins, or willfully misapplies any money, funds, securities, or other things of value, whether belonging to the Corporation or pledged or otherwise entrusted to it; or (ii) with intent to defraud the Corporation, or any other body, politic or corporate, or any individual, or to deceive any officer, auditor, or examiner of the Corporation, makes any false entry in any book, report, or statement of, or to, the Corporation, or draws any order, or issues, puts forth or assigns any note or other obligation or draft, mortgage, judgment, or decree thereof; or (iii) with intent to defraud the Corporation, participates or shares in, or receives directly or indirectly any money, profit, property, or benefits through any transaction, loan, commission, contract, or any other act of the Corporation, shall, upon conviction thereof, be punished by a fine of not more than $10,000 or by imprisonment for not more than five years, or both.

Whoever shall willfully steal, conceal, remove, dispose of, or convert to his own use or to that of another any property owned or held by, or mortgaged or pledged to, the Corporation, or any property mortgaged or pledged as security for any promissory note, or other evidence of indebtedness, which the Corporation has guaranteed or is obligated to purchase upon tender, shall, upon conviction thereof, if such property be of an amount or value in excess of $500, be punished by a fine of not more than $10,000 or by imprisonment for not more than five years, or both, and, if such property be of an amount or value of $500 or less, be punished by a fine of not more than $1,000 or by imprisonment for not more than one year, or both.

(d) Conspiracy to commit offense

Whoever conspires with another to accomplish any of the acts made unlawful by the preceding provisions of this section shall, upon conviction thereof, be subject to the same fine or imprisonment, or both, as is applicable in the case of conviction for doing such unlawful acts.

(e) General statutes applicable

All the general penal statutes relating to crimes and offenses against the United States shall apply with respect to the Corporation, its property, money, contracts and agreements, employees, and operations: Provided, That such general penal statutes shall not apply to the extent that they relate to crimes and offenses punishable under subsections (a), (b), (c), and (d) of this section: Provided further, That sections 431 and 432 of title 18 shall not apply to contracts or agreements of a kind which the Corporation may enter into with farmers participating in a program of the Corporation.

(f) Use of words “Commodity Credit Corporation”

No individual, association, partnership, or corporation shall use the words “Commodity Credit Corporation” or any combination of the same, as the name or a part thereof under which he or it shall do or purport to do business. Every individual, partnership, association, or corporation violating this prohibition shall be guilty of a misdemeanor and shall be punished by a fine of not more than $1,000 or by imprisonment for not more than one year, or both.

(June 29, 1948, ch. 704, § 15, 62 Stat. 1074; June 7, 1949, ch. 175, § 6, 63 Stat. 157; Aug. 1, 1956, ch. 815, § 2, 70 Stat. 783.)Editorial NotesCodification

In subsec. (e), “sections 431 and 432 of title 18” substituted for “sections 114 and 115 of the Act of March 4, 1909, as amended (18 U.S.C., 1940 edition, 204, 205)” on authority of act June 25, 1948, ch. 645, 62 Stat. 683, the first section of which enacted Title 18, Crimes and Criminal Procedure.

Amendments

1956—Subsec. (c). Act Aug. 1, 1956, made it an offense to willfully steal or convert property mortgaged or pledged to a lending agency under a program of the Corporation and prescribed punishment not exceeding $1,000 fine or one year imprisonment or both in the case of property of an amount or value of $500 or less.

1949—Subsec. (f). Act June 7, 1949, added subsec. (f).

Executive DocumentsExceptions From Transfer of Functions

For exception of functions of corporations of Department of Agriculture from transfer of functions to Secretary of Agriculture by Reorg. Plan No. 2 of 1953, see Exceptions From Transfer of Functions note set out under section 712a of this title.

Notes of Decisions

Cited in 69 cases, 1949–2019 · leading case: United States v. John H. Thomas & Jon-T Farms, Inc., a Corp., United States of Am. v. John H. Thomas, Also Known as J. H. Thomas, 593 F.2d 615 (5th Cir. 1979).

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United States v. John H. Thomas & Jon-T Farms, Inc., a Corp., United States of Am. v. John H. Thomas, Also Known as J. H. Thomas, 593 F.2d 615 (5th Cir. 1979). · cites it 7× “They do not challenge the Secretary’s authority to issue the regulations nor do they challenge the potential applicability of 15 U.S.C. § 714m as an enforcement mechanism for these regulations.”

United States v. Wells, 519 U.S. 482 (1997). · cites it 2× “§ 645 (offenses and penalties for certain crimes related to commerce and trade); 15 U. S. C. § 714m (punishing knowingly false statement to Commodity Credit Corporation); 15 U.”

United States v. Vandrovec (In Re Vandrovec), 61 B.R. 191 (Bankr. D.N.D. 1986). · cites it 5× “), commenced the instant action on December 2, 1985, seeking to have the obligation owing it by the Debtors declared non-dischargeable by virtue of Debtor, Gary Vandrovec’s plea of guilty in United States District Court to conversion in violation of 15 U.S.C. § 714m(c) and by…”

United States v. Kenneth E. Harbour & James G. Blank, 809 F.2d 384 (7th Cir. 1987). · cites it 6× “Both defendants contend that since the property they were accused of taking belonged to the Commodity Credit Corporation, they should have been sentenced under the misdemeanor provisions of the Commodity Credit Corporation Charter Act, 15 U.S.C. § 714m(c), rather than either 18…”

United States v. Louis Martin Radetsky, A/K/A L. M. Radetsky, 535 F.2d 556 (10th Cir. 1976). · cites it 2× “However, under documents governing authority for payment of the allowance sought, the court determined no payment was authorized unless grain was delivered “in store”; payment was not authorized if delivery was only “F.”

Francis M. Elmore v. United States, 267 F.2d 595 (4th Cir. 1959). · cites it 9× “This count of the indictment was based on 15 U.S.C.A. § 714m (a), which provides that whoever makes any statement knowing it to be false for the purpose of influencing the action of the Commodity Credit Corporation, under the provisions of the Commodity Credit Corporation Act,…”

L. M. Smith, Also Known as Laurence M. Smith, & Earl C. Corey v. United States, 305 F.2d 197 (9th Cir. 1962). · cites it 5× “It was in these counts that Smith was charged with the making of false statements in violation of 15 U.S.C.A. § 714m (a). The use which was made of the criticized phrase in each of these eight counts is illustrated by the use made of it in the ninth paragraph of the first count,…”

United States v. Lov-It Creamery, Inc., 704 F. Supp. 1532 (E.D. Wis. 1989). · cites it 6× “While the language of section 714m does not preclude application of certain penalty provisions of Title 18, the Court also must determine whether the reverse is true.”

United States v. John Robert Jones, 722 F.2d 632 (11th Cir. 1983). · cites it 2× “KRAVITCH, Circuit Judge: Appellant was convicted of converting pledged property in violation of 15 U.S.C. § 714m(c). Although originally sentenced to four years imprisonment, with all but an indeterminate six months suspended, and five years probation, appellant was resen-tenced…”

United States v. Randy W. Blankenship, 382 F.3d 1110 (11th Cir. 2004). “1959) (upholding conviction of defendant who certified that he would use wheat purchased with government assistance for feeding livestock because “15 U.S.C.A. § 714m(a) should be interpreted to [prohibit] not only false statements of existing fact but also false and fraudulent…”

United States v. John Natale, 719 F.3d 719 (7th Cir. 2013). “See 15 U.S.C. § 714m(a) (criminalizing some false statements made "for the purpose of influencing in any way the action of the Corporation”); 18 U.”

Doty v. United States, 24 Cl. Ct. 615 (Ct. Cl. 1991). · cites it 3× “shall, upon conviction thereof, be punished____ 15 U.S.C. § 714m(a) (emphasis added). No successful action can be brought against a person under section 714m(a) unless the person making the alleged false statement knew it was false when the statement was made.”

Show all 69 citing cases →

— 15 U.S.C. § 714m(a) — 30 cases

United States v. John H. Thomas & Jon-T Farms, Inc., a Corp., United States of Am. v. John H. Thomas, Also Known as J. H. Thomas, 593 F.2d 615 (5th Cir. 1979). “They do not challenge the Secretary’s authority to issue the regulations nor do they challenge the potential applicability of 15 U.S.C. § 714m as an enforcement mechanism for these regulations.”

Doty v. United States, 24 Cl. Ct. 615 (Ct. Cl. 1991). “shall, upon conviction thereof, be punished____ 15 U.S.C. § 714m(a) (emphasis added). No successful action can be brought against a person under section 714m(a) unless the person making the alleged false statement knew it was false when the statement was made.”

L. M. Smith, Also Known as Laurence M. Smith, & Earl C. Corey v. United States, 305 F.2d 197 (9th Cir. 1962). “It was in these counts that Smith was charged with the making of false statements in violation of 15 U.S.C.A. § 714m (a). The use which was made of the criticized phrase in each of these eight counts is illustrated by the use made of it in the ninth paragraph of the first count,…”

— 15 U.S.C. § 714m(b) — 5 cases

United States v. Lena Williams, 993 F.2d 1224 (6th Cir. 1993).

United States v. William R. Bailey, 734 F.2d 296 (7th Cir. 1984).

United States v. Nathan W. Barnes, & Kenneth L. McGinn, 761 F.2d 1026 (5th Cir. 1985).

United States v. Lov-It Creamery, Inc., & Roger L. Jahnke, 895 F.2d 410 (7th Cir. 1990).

— 15 U.S.C. § 714m(b)(iii) — 1 case

Nader v. Butz, 398 F. Supp. 390 (D.D.C. 1975).

— 15 U.S.C. § 714m(c) — 23 cases

United States v. Vandrovec (In Re Vandrovec), 61 B.R. 191 (Bankr. D.N.D. 1986). “), commenced the instant action on December 2, 1985, seeking to have the obligation owing it by the Debtors declared non-dischargeable by virtue of Debtor, Gary Vandrovec’s plea of guilty in United States District Court to conversion in violation of 15 U.S.C. § 714m(c) and by…”

United States v. John Robert Jones, 722 F.2d 632 (11th Cir. 1983). “KRAVITCH, Circuit Judge: Appellant was convicted of converting pledged property in violation of 15 U.S.C. § 714m(c). Although originally sentenced to four years imprisonment, with all but an indeterminate six months suspended, and five years probation, appellant was resen-tenced…”

United States v. Kenneth E. Harbour & James G. Blank, 809 F.2d 384 (7th Cir. 1987). “Both defendants contend that since the property they were accused of taking belonged to the Commodity Credit Corporation, they should have been sentenced under the misdemeanor provisions of the Commodity Credit Corporation Charter Act, 15 U.S.C. § 714m(c), rather than either 18…”

United States v. Vernon Charles Schwartz, 655 F.2d 140 (8th Cir. 1981).

— 15 U.S.C. § 714m(d) — 5 cases

United States v. Lov-It Creamery, Inc., 704 F. Supp. 1532 (E.D. Wis. 1989). “While the language of section 714m does not preclude application of certain penalty provisions of Title 18, the Court also must determine whether the reverse is true.”

United States v. Van Elsen, 652 F.3d 955 (8th Cir. 2011).

United States of Am., in Re Grand Jury Subpoenas Duces Tecum, 773 F.2d 204 (8th Cir. 1985).

Francis M. Elmore v. United States, 267 F.2d 595 (4th Cir. 1959). “This count of the indictment was based on 15 U.S.C.A. § 714m (a), which provides that whoever makes any statement knowing it to be false for the purpose of influencing the action of the Commodity Credit Corporation, under the provisions of the Commodity Credit Corporation Act,…”

United States v. Am. Grain & Related Indus., 763 F.2d 312 (8th Cir. 1985).

— 15 U.S.C. § 714m(e) — 4 cases

United States v. John Vincent Ray, 514 F.2d 418 (7th Cir. 1975).

United States v. Lov-It Creamery, Inc., & Roger L. Jahnke, 895 F.2d 410 (7th Cir. 1990).

United States v. Leo Potishman, Julian Scott, Transit Grain Co. & Charles J. Winters, 230 F.2d 271 (5th Cir. 1956).

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