Accounting generally for public money
Official text prohibited actmental stateif conditionpenaltylegal term
Whoever, being an officer, employee or agent of the United States or of any department or agency thereof, having received public money which he is not authorized to retain as salary, pay, or emolument, fails to render his accounts for the same as provided by law is guilty of embezzlement, and shall be or in a sum equal to the amount of the money embezzled, whichever is greater, or imprisoned not more than ten years, or both; but if the amount embezzled does not exceed $1,000, he shall be or imprisoned not more than one year, or both.
History: (June 25, 1948, ch. 645, 62 Stat. 726 (PDF, 39 MB); Pub. L. 103–322, title XXXIII, §330016(1)(H), (2)(G), Sept. 13, 1994, 108 Stat. 2147 (PDF, 52 MB), 2148; Pub. L. 104–294, title VI, §606(a), Oct. 11, 1996, 110 Stat. 3511.)
Simplified explanation
It is a federal embezzlement crime for a federal officer, employee, or agent who receives public money they are not allowed to keep as pay to fail to account for it as the law requires.