An officer or employee of the State or of a county, municipal corporation, bicounty agency, or multicounty agency may not, by force, intimidation, or threat, induce a person employed in work financed wholly or partly by the State or by a county, municipal corporation, bicounty agency, or multicounty agency to give up any compensation to which the person is entitled under a contract or otherwise. A person who violates this section is guilty of a felony and on conviction is subject to imprisonment not exceeding 5 years or a fine not exceeding $5,000 or both. A prosecution for a crime under this section shall be instituted within 5 years after the crime was committed.