Accusations of bank fraud can severely damage your reputation, leading to distrust from friends and family. Being accused of lying for personal gain casts a negative shadow on your character. Moreover, if convicted, it may pose challenges in securing future employment. Employers are cautious when considering individuals with fraud convictions, concerned about the potential for repeat offenses.
Being investigated or charged with bank fraud is an extremely serious matter. You could face fines of up to $1,000,000 and a maximum of 30 years in prison. Cases of bank fraud are often very complicated, involving multiple criminal charges such as mail fraud, wire fraud, loan fraud, or even forgery if you falsify financial documents or checks. Because the charges are so serious, it’s crucial that you have excellent representation from a Los Angeles bank fraud defense lawyer
In simpler terms, bank fraud refers to the use of deceitful or illegal methods to obtain money, assets, or property that belongs to a bank or other financial institution. This can involve a range of fraudulent activities, such as altering checks, creating fake documents, stealing identities, or engaging in phishing scams over the internet. Ultimately, bank fraud is a serious crime that can have significant consequences for those who engage in it.
Several forms of bank fraud exist, including:
- Wire fraud: This involves using a computer, telephone, or radio to deceive a financial institution and obtain funds through fraudulent means.
- Loan fraud: This occurs when someone misrepresents themselves in order to receive a loan, such as providing false information on a loan application.
- Mail fraud: This is when someone uses the mail to obtain funds that they are not entitled to, such as through a fake or deceptive investment scheme.
- Lying on loan applications or other financial documents: This involves providing false information on loan applications or other financial documents in order to gain access to funds that are not rightfully yours.
- Forging checks: This refers to the use of someone else’s checks or the creation of fake checks in order to illegally obtain funds.
Potential Penalties of Bank Fraud Charges:
Committing fraud is a serious crime, and this is especially true for bank fraud. In the United States, bank fraud is against federal law, meaning that investigations are conducted by federal agencies rather than California state police or investigators. In addition, if you are found guilty of bank fraud, you will be prosecuted under federal criminal law rather than state law.
The consequences for being convicted of bank fraud can be severe. If found guilty, you could be facing up to 30 years in federal prison and/or a fine of up to $1,000,000. These penalties serve as a stark reminder of the severity of bank fraud and the importance of seeking legal counsel in the event that you are accused of such a crime.
Defending Against Bank Fraud:
Here are some common defenses for bank fraud:
- Lack of knowledge: To commit bank fraud, you must have knowingly engaged in fraudulent activity. If you can show that you were not aware of the fraudulent activity, it can be argued that you did not commit a criminal act. However, this does not guarantee a not guilty verdict but can help reduce your sentence.
- Lack of intent: Intent to defraud a financial institution is a key element of bank fraud. If you can demonstrate that you did not intend to defraud anyone, your charges or penalties may be reduced.
- Lack of evidence: The prosecution must present strong evidence of the fraud to obtain a conviction. If the evidence is insufficient or lacking, it can be argued that you should be found not guilty.
- Lack of ability: You may be physically incapable or lack access to the means to commit the fraud you are accused of. In this case, it can be argued that you could not have committed the alleged crime.
We know that being accused of any crime can be a daunting and scary experience, especially when it comes to bank fraud. However, by having a Los Angeles criminal defense lawyer “Cyrus Tabibnia” from Tabibnia Law Firm represents you, you can have peace of mind knowing that we will support you throughout the process and tirelessly work to defend your freedom. Call and get free case evaluation: 866-713-2159