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CRM 1000-1499

1346. Counterfeited And Forged State And Corporate Securities -- General Overview

Section 513 of Title 18 covers the making, uttering, or possession of any counterfeit or forged security. It covers not only marketable securities, such as stocks, bonds, and debentures, but also includes common securities, such as checks, money orders, and traveler's checks. In addition, it includes other commercial instruments. In enacting 18 U.S.C. § 513 the Congress clearly intended to utilize the commerce power to nearly its outer limit. Section 513 may prove effective in prosecuting those traffickers in counterfeit and forged securities who were previously difficult to reach under federal law because of some of the elements in the counterfeit and forgery provisions of 18 U.S.C. § § 2314 and 2315.

Congress was aware that it was expanding federal jurisdiction, but found such expansion necessary and proper to protect this particularly important aspect of interstate and foreign commerce. See S.Rep. No. 225, 98th Cong., 2d Sess. 371. To understand the elements of 18 U.S.C. § 513, it may be beneficial to review the discussion of comparable provisions in 18 U.S.C. §§ 2314 and 2315 found in this Manual at 1311 to 1313.

It should be noted that 18 U.S.C. § 513 does not require proof of certain elements required under 18 U.S.C. § § 2314 and 2315 (e.g., there is no need to prove actual interstate transportation of the security; and forged endorsement of a state or corporate check is expressly covered).

[cited in Criminal Resource Manual 1319; JM 9-61.500]