Also known as the S&L Kingpin Statute, this law was enacted in response to the late 1980’s savings and loan scandal, in which numerous factors, such as market forces and criminal activity within saving and loan institutions, led to the collapse of the industry. Primarily concerned with punishing financial institution related crimes, the financial kingpin statute criminalizes the administration of a continuing financial crimes enterprise.
A criminal enterprise is a series of violations of enumerated crimes related to financial institutions that were committed by at least four persons acting in concert. According to most courts, a series is three violations.
Punishment under the financial crime kingpin statute is severe. The law provides for fines up to $20 million for organizational defendants, as well as fines of up to $10 million and up to life imprisonment for individual defendants receiving $5 million or more during a 24-month period from a criminal enterprise.
-excerpted from the US Fraud Examiner's Manual 2013 p. 2265