After a federal judge refused to dismiss criminal charges against him, Michael Reed took revenge by electronically filing a UCC
financing statement listing the judge as the debtor on a $3.4 million loan. Reed himself was listed as the secured party. The lien became part of the public record. Reed was prosecuted for violating a statute prohibiting harassment of public officials. Reed argued that he was innocent because the financing statement did not list collateral - and would never have succeeded in perfecting a claim. Is this a good argument? Explain why or why not.
Federal law takes care of several laws that deal with appropriate usage of legal considerations and bindings that affect daily agreements and contractual relationships among common people. UCC is a financing statement that affects the collaterals of different types and the parties involved in this lien statement.
