(a) Any person who knowingly makes any false statement, or falsifies or permits to be falsified any record of this system, in an attempt to defraud the system, is guilty of a felony, and on conviction shall be fined not less than $25,000 nor more than $100,000 and imprisoned not less than five years, without suspension, modification, or revocation of the sentence prescribed herein, nor more than ten years.
(b) Whenever any act of or attempt to commit fraud is discovered, the Administrator or his designee, shall transmit all evidence of the crime to the Department of Justice, Office of the Attorney General for investigation and prosecution.
(c) Should the fraudulent manipulation of the records result in any member's or beneficiary's receiving from the system more or less than he would have been entitled to receive had the records been correct, the System shall correct the error and, as far as practicable, shall adjust future payments in a manner that the actuarial equivalent of the annuity or benefit that the member or beneficiary was correctly entitled to receive, shall be paid.
(d) Any person who endorses or cashes another member’s retirement check without written authorization is guilty of a felony and is subject to the penalties prescribed in subsection (a) of this section.
(e) Any person who withdraws the proceeds of another member’s retirement check which were electronically deposited into the member’s account, without written authorization, is guilty of a felony and is subject to the penalties prescribed by subsection (a) of this section.
(f) The acts proscribed in subsections (a), (d), and (e) apply to the endorsement or cashing of retirement checks, or the withdrawal of the proceeds of retirement checks electronically deposited into a member’s account, after the member is deceased.
(g) Any person who commits an act proscribed in subsections (a), (d), and (e) is subject to any other criminal or civil penalty contained elsewhere in the Virgin Islands Code.