Fraud Victims Restitution Act of 1987

Fraud Victims Restitution Act of 1987 - Amends the Federal criminal code to provide for the criminal and civil forfeiture of the proceeds of mail and wire fraud violations. Makes the forfeiture procedures of the Controlled Substances Act applicable to forfeitures under this Act.

Permits courts to order the forfeiture of substitute assets if the property subject to forfeiture under this Act: (1) cannot be located; (2) has been transferred to a third party; (3) has been placed beyond the jurisdiction of the court; (4) has been substantially diminished in value; or (5) has been commingled with other property.

Sets forth procedures for the seizure of property subject to forfeiture.

Sets forth procedures and rules for the disposition of forfeited property (first making the property and proceeds available to reimburse the victims).