United States v. James Seeley Cyphers

Defendant James Seeley Cyphers appeals from his judgment of conviction and sentence to five years probation for violating 18 U.S.C. § 2315 , selling stolen securities in excess of $5,000 in value which were “moving as ... a part of, or . constitute[d] interstate or foreign commerce . . .” We affirm.

I. Statement of the Case

Cyphers was indicted on March 1, 1978, for selling stolen Series E savings bonds to an undercover FBI agent. He waived his right to a jury and the case was tried by the District Court.

Cyphers admitted knowledge of the bonds’ stolen character at the time of the sale. The owner of the bonds identified them as being those which had been stolen from his home in North Carolina approximately two years earlier. The FBI agent testified to the circumstances surrounding the sale. The Government offered no evidence to link Cyphers to the original theft or to show that he acted as a conduit for interstate distribution of the bonds. The District Court found Cyphers guilty as charged.

II. Issue Presented

18 U.S.C. § 2315 contains four elements: (1) the securities were stolen; (2) their aggregate value exceeded $5,000; (3) the defendant knew they were stolen; (4) they…