S. 5107: No Corporate Crooks Act

This bill would bar certain people from holding jobs in the executive branch of the federal government if they have been finally convicted of specified crimes and part of the misconduct happened while they were serving as the chief executive officer of a public or private non-federal entity.

What the restriction would do

If a person was convicted of one of the listed offenses, and any part of the conduct happened while they were acting as CEO of a company or other non-federal organization, they would be ineligible for appointment to an executive branch position in the federal government.

Covered crimes

The bill lists the following types of crimes:

• Bribery
• Copyright infringement
• Cybercrime
• Embezzlement
• Fraud
• Insider trading
• Wage theft
• Tax evasion

It also covers state offenses that are similar to those federal crimes.

What happens to current executive branch workers

The bill says that if someone is already serving in the executive branch when the law takes effect, and they would be barred under the new rule, they must be removed from their federal executive branch job.

Key practical effect

The main effect is to prevent people with certain corruption-related criminal convictions tied to their time as a CEO from serving in the executive branch, and to require removal of any current executive branch employee who falls into that category.

Relevant Companies

None found.