Anyone who has been charged with bank fraud is facing a very serious charge that could result in life altering negative circumstances. Bank fraud can be either a federal or a state crime. It describes activities that are designed to steal assets from a bank or from a financial institution.
One of the major differences between bank fraud and bank robbery is that bank fraud is nonviolent. It is classified as a white-collar crime perpetrated against a banking institution. It is done to get assets or money, property or goods from a bank through fraudulent means. Anyone who has been accused of bank fraud needs to speak to our criminal defense attorneys so that they can help formulate a defense that will hold up in court.
There are a lot of different ways that a person can commit bank fraud. One way is by creating fake documents pertaining to a financial institution. Another way is by bribery. Individuals who get loans under false pretense using false information, those who commit petty larceny or grand larceny, individuals who become involved in creating counterfeit checks, fraudulent credit card activity, or committing check kiting activities can all be charged with bank fraud.
There are a lot of charges that are associated with bank fraud. For example, a person who receives a credit card under fraudulent circumstances is also guilty of mail fraud. An individual who manipulates an automatic teller machine in order to steal money or change information could also be guilty of computer fraud. Embezzlement is another charge that is connected with bank fraud.
Because the nature of these crimes often involves financial transactions across state lines, most offenses connected with bank fraud are considered federal offenses. This is another reason why speaking to an experienced criminal defense attorney is a must for anyone charged with bank fraud. Criminal attorneys can explain any overlapping issues involved in a case, and they can work with you to come up with a strategy that is going to aggressively defend you in court.
Examples of Bank Fraud Crimes
As mentioned earlier, bribery can be a form of bank fraud. Bribery falls under statute 18 USC 215. It includes giving, offering to give, or promising to give something of value to a financial institution with the intent of receiving illegal financial compensation. In this instance, bribery is illegal for the individual offering the bribe, but it is also illegal for the employee or agent of a financial institution to accept the bribe. Bribery can carry up to 30 years in prison and a fine of up to $1 million.
Embezzlement is a crime that is being seen with more frequency in New York City. This crime is governed by 18 USC section 656 and 657. Embezzlement takes place when an individual is entrusted with money or with the property, and they illegally take possession of the property that they were entrusted with. In order for embezzlement to take place, the victim must be the legal owner of the money or the property, and the defendant must use illegal maneuvering to take “lawful possession” of the property. The punishment for embezzlement is very serious and can result in 30 years in prison and fines of up to $1 million.
Ever since the economic downturn in 2008, New York City has seen an increase in the amount of individuals engaging in bank fraud, bribery, and embezzlement. For this reason, the New York District Attorney’s Office is giving more than the usual attention to these crimes. Judges are inflicting serious penalties on offenders.
Because of the complexity surrounding charges of bank fraud, it is ill advisable for anyone to attempt to defend themselves against this charge in court. If you or someone you love has been charged with this crime, contact our legal team today. We will sit down with you and explain the charges, and we will do everything in our power to see to it that your legal rights are protected.
We offer free consultations. We are experienced attorneys comprised of ex-assistant district attorney’s as well as other competent criminal defense lawyers. We have a combined total of more than 30 years defending bank fraud cases. We are excited to meet with you and put our years of experience and know-how to work for you.