Department of Housing and Urban Development transactions
Official text prohibited actmental stateif conditionpenaltylegal term
Whoever, with intent to defraud, makes any false entry in any book of the Department of Housing and Urban Development or makes any false report or statement to or for such Department; or
Whoever receives any compensation, rebate, or reward, with intent to defraud such Department or with intent unlawfully to defeat its purposes; or
Whoever induces or influences such Department to purchase or acquire any property or to enter into any contract and fails to disclose any interest which he has in such property or in the property to which such contract relates, or any special benefit which he expects to receive as a result of such contract—
Shall be or imprisoned not more than one year, or both.
History: (June 25, 1948, ch. 645, 62 Stat. 752 (PDF, 39 MB); Oct. 31, 1951, ch. 655, §26, 65 Stat. 720 (PDF, 4.2 MB); Pub. L. 90–19, §24(d), May 25, 1967, 81 Stat. 28 (PDF, 2.3 MB); Pub. L. 103–322, title XXXIII, §330016(1)(H), Sept. 13, 1994, 108 Stat. 2147 (PDF, 52 MB).)
Simplified explanation
It is a federal crime to make false entries or reports to the Department of Housing and Urban Development (HUD) with intent to defraud, or to take payments or rewards meant to cheat HUD. It is also illegal to get HUD to buy property or sign a contract while hiding a personal interest in the deal.