U.S. v. Urciuoli

• Decision Date: 26 May 1978
• Docket Number: No. 77-3647,77-3647
• Citation: 575 F.2d 768
• Parties: UNITED STATES of America, Appellee, v. Jerry URCIUOLI, Appellant.
• Court: U.S. Court of Appeals — Ninth Circuit

Page 768

575 F.2d 768

UNITED STATES of America, Appellee, v. Jerry URCIUOLI, Appellant.

No. 77-3647.

United States Court of Appeals Ninth Circuit.

May 26, 1978.

Joe Reichmann, Los Angeles, Cal., for appellant.

Juan P. Robertson, Asst. U. S. Atty., Los Angeles, Cal., for appellee.

Appeal from the United States District Court for the Central District of California.

Before ELY and GOODWIN, Circuit Judges, and PALMIERI, ^* District Judge.

PER CURIAM:

Urciuoli appeals from his convictions on two counts of transporting stolen securities in interstate commerce, violations of 18 U.S.C. § 2314. Here, he makes two arguments: (1) that certain of the stolen certificates were not "securities" at the time of transportation because they had been cancelled and (2) that there was insufficient evidence adequately to prove transportation of certain of the stolen bonds from New York to California. We reject both contentions.

Urciuoli was employed at the Barbizon Plaza Hotel in New York City from mid 1967 until late 1974. During that period two thefts of securities occurred there. On April 17, 1973, eight State of Israel Bonds were stolen from one of the hotel rooms. On May 3, 1974, nine Banco Popular de Puerto Rico Savings certificates were stolen from another hotel room. Upon learning of the latter theft, the owner of the Banco Popular de Puerto Rico certificates reported them stolen and caused them to be cancelled. In early 1976 Urciuoli appeared in California in possession of the stolen bonds and savings certificates. In February of 1976 Urciuoli negotiated the Israeli bonds by forwarding them to New York and receiving payment in return. Shortly thereafter, Urciuoli attempted to negotiate the Banco Popular de Puerto Rico certificates by sending them to Puerto Rico for payment. However, Banco Popular de Puerto Rico refused to honor the certificates upon ascertaining that they had been reported stolen and had been cancelled. Urciuoli was subsequently arrested, indicted, and convicted.

As previously noted, Urciuoli first contends that he cannot be charged with a violation of 18 U.S.C. § 2314 concerning the Banco Popular de Puerto Rico certificates because those certificates had ceased to be "securities" upon cancellation. The certificates had been ordered cancelled by the owner soon after their theft and before Urciuoli moved them in interstate commerce, either by transporting them to California or by sending them to Puerto Rico, in his attempt to negotiate them. We reject this argument, as have other courts. See Wright v. United States, 356 F.2d 261 (5th Cir.), cert. denied, 385 U.S. 844, 87 S.Ct. 33, 17 L.Ed.2d 77 (1966); United States v. Weinberg, 345 F.Supp. 824 (E.D.Pa.1972), aff'd, 478 F.2d 1351 (3d Cir. 1973), cert. denied, 414 U.S. 1005, 94 S.Ct. 363, 38 L.Ed.2d 242 (1974). There was nothing on the face of the Banco Popular de Puerto Rico certificates to indicate that they were invalid and could not be redeemed. Appearing to be valid, the certificates could have been transferred to an innocent purchaser who only later, upon an attempt to redeem them, would learn of their cancellation. The fact that the facially valid certificates had been cancelled may have affected their redeemability, but it did not alter their status as "securities" under 18 U.S.C. § 2314. We find nothing in United States v. Teresa, 420 F.2d 13 (4th Cir. 1969), cert. denied, 397 U.S. 1063, 90 S.Ct. 1498, 25 L.Ed.2d 684 (1970), upon which Urciuoli relies, which alters our conclusion. In Teresa the Fourth Circuit held that Treasury notes which had been "perforated,...