Fraud against the US has been dealt in Title 18, Chapter 47 of the US Code.
Any person who intentionally executes any scheme with an ill intention to defraud the US, or obtain money by fraudulent means in respect to any property and as the capacity of a prime contractor, for a value of $ 1, 000, 00 or more, is liable to face a fine which may extend up to $1, 000, 00 or an imprisonment which may extend up to 10 years, or both.
While calculating the amount of the fine for fraud, the court takes in to account the features as laid down in 18 U.S.C. sections 3553 and 3572, and also those in the guidelines and policy statements of the United States Sentencing Commission.
Any prosecution for any offense may be initiated any time before the expiry of 7 years after the offense is committed, along with taking in consideration any supplementary time otherwise allowed by law.
(More: http://www4.law.cornell.edu/uscode/18/usc_sec_18_00001031----000-.html)
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