Bank fraud is an offense that is aggressively pursued by federal prosecutors. Committing bank fraud, attempting to commit bank fraud, and conspiring to commit bank fraud all carry the same penalty of up to $1 million in fines and 30 years of imprisonment. In many cases, the prosecution will file additional charges such as tax fraud, increasing the severity of a potential sentence.
Ron Cordova is a premier financial crimes defense attorney. With over 40 years of criminal law experience, he has tried more than 150 jury trials in federal and state courtrooms across the United States. Ron’s detailed knowledge of the federal court system and his ability to develop creative and effective legal strategies can help you to challenge serious federal charges.
What Is Bank Fraud?
Bank fraud is a federal crime that involves knowingly executing or attempting to execute a scheme to defraud a financial institution or obtain money, funds, credits, assets, securities or other property owned by or under the custody of a financial institution through false or fraudulent pretenses, representations or promises. This white-collar crime encompasses a wide range of illegal activities targeting banks, credit unions and other federally insured financial institutions.
Common examples of bank fraud include various schemes designed to illegally obtain money or property from financial institutions:
- Check fraud involving forged, altered or counterfeit checks used to withdraw funds from accounts
- Identity theft to open fraudulent accounts or access existing accounts belonging to another person
- Loan fraud, including providing false information on applications to obtain credit or mortgages
- Credit card fraud, the unauthorized use of credit cards or account information to make purchases or cash advances
- Wire transfer fraud using false instructions to redirect electronic transfers to unauthorized accounts
- ATM skimming devices that capture card information and PIN numbers for illegal withdrawals
- Account takeover schemes – taking control of bank accounts through stolen credentials
- Money laundering operations designed to disguise the origins of illegally obtained funds through legitimate financial transactions
Each of these activities can result in serious federal charges with substantial penalties upon conviction, making experienced legal representation essential.
What Are The Penalties For Investment Fraud?
Investment fraud penalties vary depending on the specific charges and circumstances involved in each case. Federal sentencing guidelines consider factors such as the amount of money involved, the number of victims affected and the defendant’s criminal history in determining appropriate punishment.
Penalties for investment fraud can include substantial prison sentences ranging from several years to decades in federal custody, depending on the severity and scope of the fraudulent scheme. Financial penalties include restitution to victims for their actual losses, forfeiture of assets obtained through fraudulent activities and criminal fines that can reach millions of dollars in serious cases.
What Are Defense Strategies For Bank Fraud And Investment Fraud?
Effective defense strategies for financial crimes require a thorough analysis of the prosecution’s evidence and the development of compelling counterarguments. Common defense approaches include challenging the intent element by demonstrating a lack of knowledge or criminal intent to defraud financial institutions.
Other strategies involve questioning the sufficiency of evidence presented by prosecutors, identifying constitutional violations during the investigation process and presenting alternative explanations for the defendant’s actions.
Strong Representation Requires Early Preparation
If you have received a subpoena, call, visit or other communication from a federal agent, or if you have reason to believe that you are under investigation for bank fraud, it is imperative that you retain legal representation as soon as possible.
Federal prosecutors spend months investigating suspected instances of bank fraud. Your success depends upon the early involvement of a skilled attorney who can conduct his own investigation into the allegations against you and build the strongest possible defense.
Contact A Respected Criminal Defense Attorney Today About Financial Crime Charges
Your immediate action can make all the difference in the effectiveness of your defense. For exceptional counsel, advocacy and representation in all matters relating to bank fraud, contact Ron Cordova, Attorney-At-Law at his Irvine office today by calling 949-769-2175 or reach out to him online to discuss your legal situation.
