Bank Fraud Defense Attorneys
Charges of bank fraud arise when a New Jersey criminal defendant is accused of taking fraudulent steps to obtain money, assets, or other property that is owned by a bank or financial institution. A financial institution can include many different kinds of businesses such as a any Federal Reserve Bank; depository branch, FDIC insured bank and a savings and loan or credit institution. Due to recent public outrage directed towards professionals who are accused of committing crimes such as bank fraud during the course of their employment The Department of Justice will often turn into messy public spectacles and prosecutors will often press for maximum sentences to be applied to bank fraud defendants.
The mechanical elements of bank fraud are in some cases dependent on the fragile meanings of words. For example; a man comes into a bank with a gun and takes $100,000, meanwhile in another office of the bank, the vice president of the bank has created an intricate web of shell companies in an attempt to hide the $100,000 dollar that he has embezzled. Both individuals have deprived the bank of the same amount of money, yet because of the manner that they took to acquire such wealth; they will both be tried under different statutes and most likely receive different prison sentences if convicted.
What Is Bank Fraud
A key element in bank fraud is the use of deception or others measures taken to conceal the theft. The elements theft or deception that was used in the alleged fraud and the manner in which it was conducted can have an effect serious effect on a case. If you are accused of bank fraud, contact the bank fraud attorneys at The Blanch Law Firm a schedule a consultation as soon as possible.
The following actions should be seen as an incomplete list of examples of actions which could be prosecuted with charges of bank fraud.
- Embezzlement: Taking monies that were entrusted to your supervision through the course of your employment or appointment and using them for your own personal gain.
- Forged Checks: Singing another’s signature or altering the value of a check for personal gain is a common form of bank fraud.
- Check Kiting: Checks which may or may not be forged are written from one account and then deposited in a second. The money is then moved from both accounts into a third before the second bank can transfer the money from the first bank. Check kiting is a common element in Nigerian 419 scams.
- False Record Keeping: Entering false information onto a bank’s balance sheet in order to disguise fraudulent activities.
- Accounting Fraud: In the beginning of the 21st century many prominent publically traded firms where investigated by the federal government for accounting fraud. In response to this crisis The Sarbanes Oxley Act of 2002 was passed. The Act revised the sentencing guidelines to demand harsher penalties for accounting fraud.
- Fraudulent Loans: Loan officers can become criminal defendants if they are suspected in offering loans that are larger than they should be or in relation to other frauds like bankruptcy and mortgage fraud.
Penalties For Bank Fraud
The penalties for bank fraud are very severe and can irreversibly affect the lives of people convicted of bank fraud. Many people who are in a position to commit bank fraud are dependent on their reputation as an essential part of their career; a conviction for bank fraud will ruin that reputation and could lead to them being blacklisted from their profession for life. The criminal penalties for bank fraud are very severe and depending on the facts of the case can result in up to 30 years in prison and a fine of up to $1 million.
Aside from charges of bank fraud, there are many other criminal charges that can be found on an indictment for alleged actions of bank fraud. Those charges include but are not limited to:
- Forgery
- Embezzlement
- Mail Fraud
- Wire Fraud
- Money Laundering
- Identity Theft
- Mortgage Fraud
- The Racketeer Influenced and Corrupt Organizations Act
The Blanch Law Firm Can Help
If you are facing charges of bank fraud you need an experienced white collar firm of skilled bank fraud lawyers to protect you rights. The bank fraud attorneys at The Blanch Law Firm know the statutes and precedent that dictate bank fraud cases. If you are facing charges of bank fraud, contact the bank fraud attorneys at The Blanch Law Firm, schedule a consultation, and begin what could be the most important fight of your life.