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U.S. Code as of:
01/19/04
Section 1711. Misappropriation of postal funds
Whoever, being a Postal Service officer or employee, loans, uses,
pledges, hypothecates, or converts to his own use, or deposits in
any bank, or exchanges for other funds or property, except as
authorized by law, any money or property coming into his hands or
under his control in any manner, in the execution or under color of
his office, employment, or service, whether or not the same shall
be the money or property of the United States; or fails or refuses
to remit to or deposit in the Treasury of the United States or in a
designated depository, or to account for or turn over to the proper
officer or agent, any such money or property, when required to do
so by law or the regulations of the Postal Service, or upon demand
or order of the Postal Service, either directly or through a duly
authorized officer or agent, is guilty of embezzlement; and every
such person, as well as every other person advising or knowingly
participating therein, shall be fined under this title or in a sum
equal to the amount or value of the money or property embezzled,
whichever is greater, or imprisoned not more than ten years, or
both; but if the amount or value thereof does not exceed $1,000, he
shall be fined under this title or imprisoned not more than one
year, or both.
This section shall not prohibit any Postal Service officer or
employee from depositing, under the direction of the Postal
Service, in a national bank designated by the Secretary of the
Treasury for that purpose, to his own credit as Postal Service
officer or employee, any funds in his charge, nor prevent his
negotiating drafts or other evidences of debt through such bank, or
through United States disbursing officers, or otherwise, when
instructed or required so to do by the Postal Service, for the
purpose of remitting surplus funds from one post office to another.
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