1348
Counterfeited and Forged State and Corporate
Securities
-- Relevant Definitions
|
The terms "counterfeited," "forged," "security," "organization,"
and
"State" are defined in subsection 513(c). "Utter," which is not expressly
defined in 18 U.S.C. § 513, but the judicial construction given the
word
"utter" in the context of other federal statutes will likely be applied to
this
statute. See, e.g., 18 U.S.C. §§ 493, 494, and 495.
The terms "counterfeited" and "forged" refer to the making of the
security. Did the person have the authority to issue or make the document
or
writing? If not, it is counterfeit or forged. 18 U.S.C. § 513(a) does
not
encompass the initial genuine making of a security which contains false or
misleading statements (e.g., true name check for which there are
insufficient
funds in the account to cover it). The purpose of this provision is the
protection of the integrity of the security and not the punishment of
fraudulent
conduct in general.
The term "security" is defined broadly to encompass all the
securities
covered under the National Stolen Property Act (18 U.S.C. §§ 2311,
2314,
and 2315) plus others. Besides stocks and bonds it covers common securities
such
as checks, money orders, and traveler's checks. It also covers letters of
credit, warehouse receipts, and negotiable bills of lading. Because it
encompasses "an instrument evidencing ownership of goods, wares, or
merchandise,"
it covers motor vehicle titles issued by state departments of motor
vehicles.
The term "security" also covers "debit instruments" as defined in
§
916(c) of the Electronic Fund Transfer Act (15 U.S.C. § 1693n(c))
(i.e.,
"any
card, code, or other device other than a check, draft, or similar paper
instrument, by the use of which a person may initiate an electronic fund
transfer."). Accordingly, as to the counterfeiting and forging of debit
instruments, Section 513 may overlap and expand upon some of the criminal
activity prohibited by 18 U.S.C. § 1029 (Pub.L. No. 98-473, Title 11,
Chapter
XVI-Credit Card Fund). It would appear that possession of one counterfeit
debit
card is covered under 18 U.S.C. § 513. Title 18 U.S.C. §
1029(a)(3), on
the other hand, requires possession of fifteen or more of such counterfeit
devices.
The definition of "security" also includes the blank forms of any
of
the categories of securities covered by the statute. The definition of
"state"
includes the 50 states, the District of Columbia, Puerto Rico, Guam, the
Virgin
Islands and any other territory or possession of the United States. 18
U.S.C.
§ 513 covers the securities of municipal and state agencies. The term
"organization" is defined to mean a legal entity, other than a government,
established or organized for any purpose. This definition is broad enough
to
cover all organized business entities as well as any other association of
persons
which operates in, or the activities of which affect, interstate or foreign
commerce.
[cited in USAM 9-61.500] | |