Federal Bank Fraud Defense
It seems in movies that white collar criminals always commit bank fraud. While bank fraud is committed by those “mobsters” and suave white collar criminals some of the time, bank fraud, in its true essence, is much more encompassing than one may realize. Being charged with bank fraud–the arrest and investigation can severely harm your future–both personally and professionally. A federal criminal defense attorney is critical to retain if you’ve been charged with federal bank fraud because the consequences are dire if convicted.
What Is Bank Fraud?
Crimes that can lead to bank fraud charges include:
- Lying or making a false statement to a loan/bank official;
- Deceiving or conning a bank;
- Falsifying loan documents;
- Check fraud;
- Forging a signature on a check;
- Fraudulent ATM usage; and/or
If you’ve got other white collar charges pending (wire fraud, RICO charges, etc.) sometimes, bank fraud charges can be pressed, too. This is because transferring money to an offshore or international bank account for the specific purpose of hiding a criminal activity constitutes bank fraud.
Help! I’ve Been Charged With Bank Fraud!
If this is the case, or if a loved one has been charged with bank fraud, the penalties are quite severe and can include:
- A monetary fine up to $1 million and/or prison time of 30-years;
- Even steeper fines and prison time if you are a repeat offender.
If you’re even associated with a crime of bank fraud, this is still a crime. Covering up illegal activities or participation in any way can lead to your own criminal charges of bank fraud and possibly conspiracy charges, too. Don’t wait a second longer. Please reach out to a bank fraud attorney as soon as possible for an aggressive defense and to help you avoid prison time, fines, and to protect your future.
Federal Wire Fraud: White Collar Crimes, Cont’d
So with the name “wire fraud,” the concept can be pretty difficult to grasp… What does it even mean? Why “wire”? Well, the definition of “wire fraud,” in a legal sense, requires four characteristics to be true. These four crucial elements are:
- The defendant voluntarily devised or participated in some scheme to defraud another out of money–intentionally;
- They carried out their action with the intent to defraud;
- It was pretty easy to see that international wire communications were to be used in the fraudulent act;
- Interstate wire communications were used.
So what’s a wire communication? A wire communication is any means of electronic communication–telephone, radio, television, etc.
What’re The Penalties?
Because it is almost always an interstate matter, these are federal white collar crimes and come with very hefty fines and lengthy prison sentences. You could spend up to 20 years in prison (30 if you defraud a financial institution) and fines up to $1 million or both.
What Is A Wire Fraud Charge?
You can be charged with wire fraud if you have been accused of a crime including:
- Fraudulent insurance claims;
- Investment or bond schemes;
- Fraudulent check schemes;
- Accepting bribes or kickbacks; or
- False advertising or sales techniques or transactions (including bait and switch schemes).
What Else Should I Know?
Federal wire fraud can also come with other charges like bank fraud or RICO charges or conspiracy charges. Because of the severity of the consequences if convicted, hiring a federal defense attorney as soon as possible is critical to have a better chance at protecting your future and freedom. Please contact one today!