P.R. Laws tit. 23, § 494
Any natural or juridical person who incurs a felony, upon conviction, shall be punished by imprisonment for a fixed term of six (6) years, if the person:
(a) Withdraws or makes an inappropriate application of moneys, funds, or credits of the Fund, or of moneys, funds or credits of the Fund invested in an eligible cooperative enterprise.
(b) Makes a false entry in any book, report, financial statement of the Fund or of an eligible cooperative enterprise with the intention of defrauding the Fund, eligible cooperative enterprise, or any other natural or juridical person, or with the intention of deceiving any executive officer or persons appointed to audit, examine or investigate the affairs of the Fund.
(c) Furnishes false information on any application or document submitted to the consideration of the Fund with the purpose of negotiating, obtaining, or that is otherwise related to an investment agreement, or any other document, with the intention of defrauding the Fund.
(d) Is in charge of receiving, guarding, transferring or disbursing money, funds, or credits of the Fund, or money, funds, or credits of the Fund invested in an eligible cooperative enterprise, that:
(1) Takes possession of them, in whole or in part, without legal authority to do so, for his/her particular benefit or that of any other person.
(2) Lends them, in whole or in part, or speculates with them or use[s] them for any purpose not authorized by this chapter.
(3) Does not keep them in his/her custody until they are disbursed or delivered pursuant to legal authorization.
(4) Deposit all or part of them illegally, in any cooperative, bank, or financial institution, or hands them to another person.
(5) Keeps a false account or makes a false entry of said funds, or that is related to the same.
(6) Alters, forges, hides, or destroys any account or document related to them.
(7) Exchanges, converts, or turn[s] said funds in to cash paper, or other legal tender, or negotiable instrument without legal authority to do so.
(8) Neglects or fails to guard or disburse the funds in the form provided in this chapter or its regulations.
(9) If there were aggravating circumstances in one or more of the above acts, the fixed penalty may be increased to a maximum of ten (10) years; if there were extenuating circumstances, the penalty may be reduced to a minimum of four (4) years. The court may impose the penalty of restitution in addition to the penalty of imprisonment established in any of the above modes, or both penalties. Any person who is guilty of one or more of the acts forbidden in this section, regardless of whether he/she obtained personal financial profit or not, shall be punished with the penalty provided herein.
History —Aug. 18, 2002, No. 198, § 16.