Mandatory Restitution for Corporate Abuses Act of 2002
Last action on Nov 12, 2002Referred to the Subcommittee on Crime, Terrorism, and Hom...
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Summary
Mandatory Restitution for Corporate Abuses Act of 2002 - Amends the Federal criminal code to provide for mandatory restitution for specified fraudulent offenses (including mail fraud, swindles, the use of fictitious names or addresses, fraud by wire, radio, or television, and bank fraud). Requires the restitution order to direct the defendant to pay to the victim (through the appropriate court mechanism) the full amount of the victim's losses.
Prohibits the court from declining to issue such an order because of: (1) the defendant's economic circumstances; or (2) the fact that a victim has received, or is entitled to receive, compensation for his or her injuries from the proceeds of insurance or any other source.
Makes restitution ordered under State criminal laws non-dischargeable in bankruptcy proceedings.