27:
851:, the Supreme Court misinterpreted the money laundering statutes, limiting their scope to only the `profits' of crimes, rather than the `proceeds' of the offenses. 128 S. Ct. 2020 (2008). The Court's decision was contrary to Congressional intent and will lead to criminals escaping culpability simply by claiming their illegal scams did not make any profit.
635:
represented by three members appointed by the majority party and two members appointed by the minority, none of whom may be employees of the
Federal government or any state or local government. The purpose of the commission is "to examine the causes, domestic and global, of the current financial and
397:
The Senate then added an amendment to the House's amendment. The House accepted the final version of the bill on a 338–52 vote on May 18, with 43 Representatives not voting. All 224 Democrats casting votes, as well as 114 Republicans, voted yes. Fifty-two
Republicans voted no.
439:
to falsify loan documents submitted to a broad range of financial institutions, is amended to include mortgage lending businesses in that range, and for good measure also includes any other person "that makes in whole or in part a federally related mortgage loan".
427:, which are defined as "organizations which finance or refinance any debt secured by an interest in real estate, including private mortgage companies and any subsidiaries of such organizations, and whose activities affect interstate or foreign commerce."
505:) as "any property derived from or obtained or retained, directly or indirectly, through some form of unlawful activity, including the gross receipts of such activity". Previously, the term was left undefined, and was interpreted by the
603:, in which the Court held that the mere involvement of Federal money was insufficient to bring a fraudulent claim or invoice within the scope of the False Claims Act. The amended subsection (a) of
45:
and commodities fraud, financial institution fraud, and other frauds related to
Federal assistance and relief programs, for the recovery of funds lost to these frauds, and for other purposes.
845:
This bill would amend the
Federal money laundering statutes (18 U.S.C. Sec. 1956, 1957) to correct an erroneous Supreme Court decision in 2008 that significantly weakened these statutes. In
945:
451:), which previously covered only fraud in government procurement and contracts for services, is amended to include a wider range of government involvement, including grants under the
834:
847:
554:
511:
935:
674:
653:
214:
930:
891:
724:
703:
599:
940:
375:). On April 28, the Senate passed the bill on a 92–4 vote, with three not voting; the same Senators who voted against cloture voted against the bill.
915:
806:"United States v. Santos: "Proceeds" in Federal Criminal Money Laundering Statute, 18 U.S.C. Section 1956, Means "Profits," Not "Gross Receipts""
345:
205:
579:
beginning
October 1, 2009 and 2010, after which point they expire, and are in addition to the previously authorized budgets for these agencies.
452:
889:
Senate Report 111-10, part III: "This section amends the FCA to clarify and correct erroneous interpretations of the law that were decided in
408:
515:
by a plurality of the justices as excluding gross receipts. A "Sense of the
Congress" section suggests that senior prosecutors, such as a
920:
546:
619:
includes "any request or demand" related to a government program and which will be paid from funds supplied by the government.
379:
382:
passed the bill with its own amendment on a 367–59 vote, with six
Representatives not voting and one Representative, Democrat
520:
531:
Section 3 of the Act authorizes additional funding to detect and prosecute fraud at various federal agencies, specifically:
394:. All 250 Democrats casting votes, as well as 117 Republicans, voted yes; all of the 59 no votes were cast by Republicans.
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decision, weakening the requirement to "a false record or statement material to a false or fraudulent claim", where a
597:, to "reflect the original intent of the law". This amendment is in reaction to the Supreme Court's 2008 decision in
356:
341:
191:
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or superior, should be involved before certain kinds of money-laundering cases are instigated, and directs the
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401:
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678:
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on the bill as amended (S. 386) on an 84–4 vote, with eleven not voting. Only four
Senators voted no, all
805:
283:
950:
271:
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632:
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698:" (On Motion to Suspend the Rules and Pass, as Amended - Fraud Enforcement and Recovery Act).
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168:
26:
682:
661:
656:." On the Cloture Motion (Motion to Invoke Cloture on the Committee Substitute to S. 386).
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330:
8:
719:" (Suspend Rules and Agree to S Adt to House Adts - Fraud Enforcement and Recovery Act).
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in the United States enacted in 2009. The law enhanced criminal enforcement of federal
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in addition to the existing category of registered securities under the
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to deliver a yearly report on such cases for the next four years.
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on May 14, 2009 (unanimous consent) with further amendment
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United States statutes that abrogate
Supreme Court decisions
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832:
555:
United States
Department of Housing and Urban Development
411:, a bill concerned with mortgage foreclosure prevention.
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signed the legislation into law on May 20 along with the
299:
736:
557:
526:
622:
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The crime of major fraud against the United States (
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for the purposes of Federal criminal law to include
892:
Allison Engine Co. v. United States ex rel. Sanders
725:
Clerk of the United States House of Representatives
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Clerk of the United States House of Representatives
600:
Allison Engine Co. v. United States ex rel. Sanders
631:, a legislative commission with each house of the
272:
803:
907:
897:United States ex. rel. Totten v. Bombardier Corp
739:"Protecting Homeowners, Protecting the Economy"
677:." On Passage of the Bill (S. 386 as Amended).
582:
414:
575:These authorizations are made for the federal
453:American Recovery and Reinvestment Act of 2009
833:Senate Judiciary Committee (March 23, 2009).
409:Helping Families Save Their Homes Act of 2009
767:FERA, section 2, subsections (a) through (c)
936:United States federal financial legislation
931:United States federal criminal legislation
627:Finally, section 5 of the Act created the
20:Fraud Enforcement and Recovery Act of 2009
941:United States federal housing legislation
737:White House Press Office (May 20, 2009).
916:Acts of the 111th United States Congress
636:economic crisis in the United States."
593:Section 4 of FERA restates part of the
908:
380:United States House of Representatives
351:On April 27, 2009, the Senate invoked
325:
527:Authorization for additional funding
419:The Act changes the definition of a
804:M. Maureen Murphy (June 13, 2008).
629:Financial Crisis Inquiry Commission
623:Financial Crisis Inquiry Commission
13:
570:Securities and Exchange Commission
277:Tooltip Public Law (United States)
264:Fraud Enforcement and Recovery Act
14:
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899:, 380 F.3d 488 (D.C. Cir. 2004)."
37:An act to improve enforcement of
237:House agreed to Senate amendment
231:Senate agreed to House amendment
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883:
874:
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856:
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484:Securities Exchange Act of 1934
921:Anti-money laundering measures
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813:Congressional Research Service
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471:, to include fraud related to
457:Troubled Assets Relief Program
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721:111th United States Congress
700:111th United States Congress
679:111th United States Congress
658:111th United States Congress
583:False Claims Act restatement
415:Amendments to fraud statutes
68:111th United States Congress
7:
507:United States Supreme Court
425:mortgage lending businesses
310:laws, especially regarding
10:
972:
956:Fraud in the United States
926:Presidency of Barack Obama
586:
346:Senate Judiciary Committee
611:effectively reverses the
547:Postal Inspection Service
545:$ 30,000,000 each to the
489:Finally, the Act defines
455:, transactions under the
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344:and the chairman of the
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848:United States v. Santos
794:FERA, subsection (2)(f)
785:FERA, subsection (2)(e)
776:FERA, subsection (2)(d)
512:United States v. Santos
202:Committee consideration
139:U.S.C. sections amended
862:FERA subsection (2)(g)
835:"Senate Report 111-10"
633:United States Congress
549:and the Office of the
517:United States Attorney
348:, sponsored the bill.
322:or commodities fraud.
312:financial institutions
239:on May 18, 2009 (
540:Department of Justice
421:financial institution
223:on May 6, 2009 (
198:) on February 5, 2009
683:United States Senate
662:United States Senate
568:$ 21,000,000 to the
562:$ 20,000,000 to the
16:American federal law
538:165,000,000 to the
435:, which makes it a
326:Legislative history
169:Legislative history
21:
19:
951:Fraud legislation
755:National Archives
551:Inspector General
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211:Passed the Senate
182:in the Senate as
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595:False Claims Act
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521:Attorney General
495:money laundering
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320:securities fraud
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253:on May 20, 2009
247:Signed into law
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158:31 USC §3731(b)
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156:31 USC §3730(h)
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378:On May 6, the
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838:. Retrieved
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753:– via
748:. Retrieved
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577:fiscal years
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530:
510:
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442:
424:
420:
418:
405:Barack Obama
400:
396:
384:Alan Grayson
377:
369:James Inhofe
350:
331:U.S. Senator
329:
300:May 20, 2009
267:
266:of 2009, or
263:
261:
251:Barack Obama
246:
236:
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210:
201:
179:
162:31 USC §3733
160:31 USC §3732
154:31 USC §3729
148:18 USC §1348
144:18 USC §1014
109:Codification
77:May 20, 2009
54:(colloquial)
609:§ 3729
503:§ 1956
473:commodities
469:§ 1348
449:§ 1031
433:§ 1014
357:Republicans
290:, 123
288:S. 386
910:Categories
840:2009-05-26
819:2009-05-26
750:2009-05-24
640:References
365:Jim DeMint
361:Tom Coburn
304:public law
298:, enacted
180:Introduced
142:18 USC §20
134:18 USC §27
87:Public law
34:Long title
815:. RS22896
558:(HUD/OIG)
497:statute (
402:President
390:, voting
206:Judiciary
82:Citations
74:Effective
491:proceeds
342:Democrat
51:Acronyms
553:at the
493:in the
480:options
476:futures
392:present
388:Florida
373:Jon Kyl
353:cloture
338:Vermont
302:, is a
273:Pub. L.
607:
501:
467:
447:
431:
371:, and
318:, and
294:
279:
241:338-52
225:367-59
184:S. 386
129:U.S.C.
91:111-21
809:(PDF)
617:claim
308:fraud
292:Stat.
284:(PDF)
478:and
340:, a
296:1617
268:FERA
262:The
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192:D
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