War Profiteering Prevention Act of 2007

Bill: 110-s-119
Sponsor: Sen. Leahy, Patrick J. [D-VT]
Introduced: 2007-01-04 in the Senate
Policy area: Crime and Law Enforcement
Subjects: Armed Forces and National Security
Commerce
Defense budgets
Defense procurement
Fines (Penalties)
Forfeiture
Fraud
Government Operations and Politics
Government contractors
International Affairs
International relief
Iraq compilation
Jurisdiction
Military assistance
Military civic action
Military construction operations
Military intervention
Military occupation
Military operations
Money laundering
Organized crime
Profit
War relief

Summary:
action_date: 2007-01-04
text: 
War Profiteering Prevention Act of 2007 - Amends the federal criminal code to prohibit profiteering and fraud involving a contract or the provision of goods or services in connection with a war, military action, or relief or reconstruction activities within U.S. jurisdiction (including making materially false statements or representations or materially overvaluing any good or service with the specific intent to make excessive profit). Sets penalties for violations, including up to 20 years' imprisonment and a fine of the greater of $1 million or twice the gross profits or other proceeds. Subjects: (1) any property which constitutes or is derived from proceeds traceable to a violation to civil and criminal forfeiture; and (2) transactions involving such property or proceeds to money laundering provisions. 

action_date: 2007-05-15
text: 
War Profiteering Prevention Act of 2007 - Amends the federal criminal code to impose a fine and/or prison term of up to 20 years for profiteering and fraud involving a contract or the provision of goods or services in connection with a war, military action, or relief or reconstruction activities within U.S. jurisdiction. Prohibits: (1) executing or attempting to execute a scheme or artifice to defraud the United States; and (2) materially overvaluing any good or service with the specific intent to defraud and excessively profit from the war, military action, or relief or reconstruction activities.

 Imposes a fine or prison term of up to 10 years for: (1) falsifying, concealing, or covering up by any trick, scheme, or device a material fact; (2) making any materially false, fictitious, or fraudulent statements; or (3) making or using any materially false writing or document knowing the same to be false, fictitious or fraudulent.

Establishes the fine provided by this Act as the greater of $1 million or twice the gross profits or other proceeds derived by a person convicted of an offense under this Act. 

Expands venue rules for the prosecution of offenses under this Act. 

Grants extraterritorial federal jurisdiction over offenses under this Act. 

Subjects any property which constitutes or is derived from proceeds traceable to a violation of this Act to civil and criminal forfeiture. 

Makes the war profiteering and fraud offenses set forth by this Act predicate crimes for racketeering and money laundering offenses. 


Legislative actions:
action_date: 2007-05-15
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 148.
action_date: 2007-05-15
text: Committee on the Judiciary. Reported by Senator Leahy with amendments. With written report No. 110-66. Additional views filed.
action_date: 2007-05-15
text: Committee on the Judiciary. Reported by Senator Leahy with amendments. With written report No. 110-66. Additional views filed.
action_date: 2007-04-25
text: Committee on the Judiciary. Ordered to be reported with an amendment favorably.
action_date: 2007-03-20
text: Committee on the Judiciary. Hearings held. Hearings printed: S.Hrg. 110-39.
action_date: 2007-01-31
text: Committee on the Judiciary. Hearings held. Hearings printed: S.Hrg. 110-5.
action_date: 2007-01-04
text: Read twice and referred to the Committee on the Judiciary. (text of measure as introduced: CR S119-120)
action_date: 2007-01-04
text: Sponsor introductory remarks on measure. (CR S118-119)
action_date: 2007-01-04
text: Introduced in Senate