What Are Securities?
Security or obligations held by the United States include currencies, Treasury notes, Reserves, Certificates of Deposit, checks, drafts, stamps, and other forms of value issued under any act of Congress that have been drawn by or upon authorized officers of the United States. The term also refers to canceled United States stamps, Federal Reserve notes, Federal Reserve bank notes, coupons, certificates of indebtedness, national bank currency, United States notes, and bonds.
Penalties for Counterfeiting Money
Both federal and state laws have penalties for the crime of counterfeiting money. Under federal counterfeiting law, an individual convicted of creating, possessing, or using fake money may face a 20-year sentence in federal prison and a $250,000 fine.
A defendant’s conviction and sentence for counterfeit currency depends on their criminal history, the currency’s face value, and whether they were in possession of the necessary tools or technology.
Fraud, forgery, or theft may be charged against a person who passes or owns counterfeited money. However, with the help of acriminal lawyer, they can get a formidable defense and perhaps avoid a conviction.
