WHO ARE LIABLE:
1. Public officer who became interested in any contract or business
in which it is his official duty to intervene.
2. Experts, arbitrators and private accountants who took part in any
contract or transaction connected with the estate or property in
the approval, distribution or adjudication of which they had acted.
3. Guardians and executors with respect to property belonging to their
wards or the estate.
Actual fraud is not necessary
Intervention must be by virtue of public office held
Act is punished because of the possibility that fraud may be
committed or that the officer may place his own interest above
that of the Government or of the party which he represents.
Constitutional prohibitions exist
- Congress: cannot personally appear as counsel, cannot be
interested financially in any franchise or special privilege
granted by government, cannot intervene in any matter
before office of Goevrnment
- Executive – cannot hold any other office
- Constitutional Commission – cannot hold any other office,
engage in practice of profession