Sarbanes Oxley Act Section 807

 

SEC. 807. CRIMINAL PENALTIES FOR DEFRAUDING SHAREHOLDERS
OF PUBLICLY TRADED COMPANIES.
 
(a) IN GENERAL.—Chapter 63 of title 18, United States Code,
is amended by adding at the end the following:
 
‘‘§ 1348. Securities fraud
 
‘‘Whoever knowingly executes, or attempts to execute, a scheme
or artifice—
 
‘‘(1) to defraud any person in connection with any security
of an issuer with a class of securities registered under section
12 of the Securities Exchange Act of 1934 (15 U.S.C. 78l)
or that is required to file reports under section 15(d) of the
Securities Exchange Act of 1934 (15 U.S.C. 78o(d)); or
 
‘‘(2) to obtain, by means of false or fraudulent pretenses,
representations, or promises, any money or property in connection
with the purchase or sale of any security of an issuer
with a class of securities registered under section 12 of the
Securities Exchange Act of 1934 (15 U.S.C. 78l) or that is
required to file reports under section 15(d) of the Securities
Exchange Act of 1934 (15 U.S.C. 78o(d));
shall be fined under this title, or imprisoned not more than 25
years, or both.’’.
 
(b) CLERICAL AMENDMENT.—The table of sections at the beginning
of chapter 63 of title 18, United States Code, is amended
by adding at the end the following new item:
‘‘1348. Securities fraud.’’.

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