More Severe Sanctions, Including Forfeiture
The maximum fine and maximum term of imprisonment for violating the
mail or wire fraud statutes were increased to $1,000,000 and 20 years for
violations affecting financial institutions. Pub.L. No. 101-73, Title IX,
961(i) and (j), 103 Stat. 500. In addition, FIRREA directed the United
Sentencing Commission to provide guidelines ensuring that a violation of, or
conspiracy to violate, the mail or wire fraud statutes that substantially
jeopardizes the safety and soundness of a federally insured financial
will be subject to "a substantial period of incarceration." Pub.L. No.
Title IX, § 961(m), 103 Stat. 501; see also U.S.S.G.
(minimum offense level of 24). 18 U.S.C. §§ 981(a)(1) and 982
amended to provide for civil and criminal forfeiture, respectively, for mail
wire frauds affecting financial institutions. Pub.L. No. 101-73, Title IX,
963, 103 Stat. 504-05.|
[cited in USAM 9-43.100]