2006 House Bill 6080

Increase corporate officer fraud penalties

Introduced in the House

May 18, 2006

Introduced by Rep. John Espinoza (D-83)

To create a new crime for corporate officers who attempt to obtain compensation that "the person knows or has reason to know is excessive," or who attempt to prepare false or misleading documents for the purpose of selling stock or other assets of the firm that may be affected by those documents, subject to penalties of up to 10 years in prison and a $250,000 fine.

Referred to the Committee on Judiciary