18 U.S.C. § 480 – Possessing or Delivering Counterfeit Foreign Obligations or Securities
This law makes it a federal crime to possess or deliver counterfeit foreign currency or securities with intent to defraud.
This statute applies to people accused of holding, controlling, or delivering counterfeit financial instruments issued by a foreign government or foreign bank while inside the United States.
The government must prove that the person knew the items were counterfeit and intended to use or transfer them fraudulently.
What the law prohibits.
A person violates this statute if they knowingly and with intent to defraud:
- Possess counterfeit bonds, certificates, obligations, or securities of a foreign government
- Hold counterfeit foreign treasury notes, bills, promises to pay, or bank notes
- Deliver counterfeit foreign obligations to another person
Mere proximity to counterfeit foreign currency is not enough. Knowledge and fraudulent intent are required.
Penalties.
A conviction under this statute can result in a fine, up to 20 years in federal prison, or both.
If you’re facing federal charges involving counterfeit foreign currency possession or delivery, call (314) 900-HELP or contact our criminal defense attorneys to discuss your defense.
