Bank fraud is the act of using a bank to conduct a fraudulent act that has some kind of financial gain. The act can be one in which the bank is defrauded of money through a deception, such as omitting information from a loan application or providing false information. Anyone can commit a fraudulent act involving a bank. Customers, loan officers, and any bank employee can commit some form of bank fraud. One of the most common forms of bank fraud is when a bank employee approves a loan in exchange for money when they loan should have never been approved in the first place.
If you are being investigated for bank fraud or you have already been charged, it is important to call a Phoenix bank fraud lawyer as soon as possible so work can begin on your case immediately.
Defending Against Bank Fraud Charges
Bank fraud charges can widely vary, depending on whether or not you are in charged in state or federal court. Arizona prosecutors will go ahead with a fraud charge. Fraud is the act of obtaining a benefit by omitting information or representing information on a bank loan application. The federal laws, however, are very broad and this means that you could face multiple charges that include conspiracy or mail or wire fraud.
Common acts of bank fraud include:
- Writing bad checks
- Credit card fraud
- Making false statements on a mortgage or loan application
- Assuming someone else’s identity
A person can still be charged with bank fraud even if the mortgage company or bank knew that the statement being made was false, most of the details on the application are true, and even if the loan was not approved.
Arizona Bank Fraud Penalties
Being charged with bank fraud can be very upsetting because it can be considered a federal crime and a conviction can lead to time served in a federal prison, fines, restitution, and a number of other consequences. Your Phoenix bank fraud attorney will defend you against the charges. If federal government tries to bring charges against you 10 years after the alleged offense, they cannot do so. This is something that has been attempted, but there is a statute of limitations for bank fraud cases. Because bank fraud played a significant role in the recession, some older cases have been dug up in the process as they have been investigated. Fortunately, your attorney will look at all aspects of the case to create a solid defense for you.
Contact A Phoenix Bank Fraud Attorney
Bank fraud is a serious federal offense, as it involves using a bank to commit a fraudulent act or involves making a material omission or misrepresentation in a bank application for a loan. Bank customers, loan officers, and other bank employees can be charged with bank fraud. If you have been accused of committing bank fraud, you need an experienced federal defense attorney working with you every step of the way. To learn more about how Myles A. Schneider & Associates can help you, call 602-926-7373 for a free consultation.