---
kind: "section"
citation: "15 U.S.C. § 80a–36"
title: "15"
title_heading: "Commerce and Trade"
number: "80a–36"
heading: "Larceny and embezzlement"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/15/80a-36"
units:
  - "Chapter 2D — Investment Companies and Advisers"
  - "Subchapter I — Investment Companies"
---

# §80a–36. Larceny and embezzlement


Whoever steals, unlawfully abstracts, unlawfully and willfully converts to his own use or to the use of another, or embezzles any of the moneys, funds, [securities](/usc/15/80a–2.md?p=a-36), credits, property, or assets of any registered investment [company](/usc/15/80a–2.md?p=a-8) shall be deemed guilty of a crime, and upon conviction thereof shall be subject to the penalties provided in [section 80a–48 of this title](/usc/15/80a–48.md). A judgment of conviction or acquittal on the merits under the laws of any [State](/usc/15/80a–2.md?p=a-39) shall be a bar to any prosecution under this section for the same act or acts.


## Source credit

(Aug. 22, 1940, ch. 686, title I, § 37, 54 Stat. 841.)