It is enacted by the General Assembly as follows:

SECTION 1. Chapter 19-19 of the General Laws entitled "Banking Offenses" is hereby amended by adding thereto the following sections:

{ADD 19-19-1.1. Theft, embezzlement or misapplication by bank, lending, credit and insurance officer or employee. -- ADD} {ADD Every president, director, trustee, cashier, treasurer, teller, clerk, or agent of any bank, savings bank, bank association, trust company, or loan and investment company, savings and loan company, building and loan association, credit union, insurance company, or other depository, who embezzles, abstracts, purloins or willfully misapplies any of the moneys, funds or credits entrusted to the custody or care of such bank, savings bank, bank association, trust company, or loan and investment company, savings and loan company, building and loan association, credit union, insurance company, or other depository, and any person who with like intent aids or abets any officer, clerk or agent in violation of this section, upon conviction thereof, shall be fined not exceeding two hundred fifty thousand dollars ($250,000), or be imprisoned not to exceed fifteen (15) years, or both. ADD}

{ADD 19-19-5.1. Bank fraud. -- ADD} {ADD Any person knowingly making a false statement to any bank, savings bank, bank association, trust company, loan and investment company, savings and loan company, building and loan association, credit union, or other depository, or who knowingly executes, or attempts to execute, a scheme or artifice, or willfully overvalues any land, property or security, for the purpose of influencing in any way the action of such bank, savings bank, banking association, trust company, loan and investment company, savings and loan company, building and loan association, credit union, or other depository, whether for that person's own use or for the use of any other person, firm, or corporation, in violation of this section, upon conviction thereof, shall be fined not exceeding two hundred fifty thousand dollars ($250,000), or be imprisoned not to exceed fifteen (15) years, or both.

For purposes of this section, the term "scheme or artifice to defraud" includes a scheme or artifice to deprive another of the intangible right of honest services. ADD}

{ADD 19-19-5.2. Injunctions against fraud. -- ADD} {ADD (1) The attorney general of the state of Rhode Island is hereby empowered to bring an action in the name of the state in any court of competent jurisdiction for restraining orders and injunctive relief to restrain and enjoin violations or threatened violations of the provisions of sections 19-19-1.1. and 19-19-5.1.

(2) If any person, firm, corporation or other legal entity is alienating or disposing of property, or intends to alienate or dispose of property, obtained as a result of a violation of sections 19-19-1.1 and/or 19-19-5.1 or property which is traceable to such violation. The attorney general may commence a civil action in any court of competent jurisdiction:

(A) to enjoin such alienation or disposition of property; or

(B) for a restraining order to:

(i) prohibit any person from withdrawing, transferring, removing, dissipating, or disposing of any such property or property of equivalent value; and

(ii) appoint a temporary receiver to administer such restraining order.

(3) A permanent or temporary injunction or restraining order shall be granted without bond. The court shall proceed as soon as practicable to the hearing and determination of such an action, and may, at any time before final determination, enter such a restraining order or prohibition, or take such other action, as is warranted to prevent a continuing and substantial injury to the state or to any person or class of persons for whose protection the action is brought. ADD}

SECTION 2. This act shall take effect upon passage.