Being charged with Bank Fraud is very serious and it is one that has become too common throughout the United States. The commonality is the result of individuals that legitimately commit Bank Fraud and individuals who simply make mistakes that make it look as if they were trying to defraud a bank.
Bank Fraud is defined as the intentional misrepresentation of information regarding your circumstances or not disclosing information that affects eligibility for a loan or another benefit. Before an accusation of Bank Fraud is made, the matter is investigated. As soon as you learn that you are being investigated for bank fraud or you are formally charged with the crime, it is imperative to speak to your Scottsdale bank fraud lawyer as soon as possible.
Determination Of Bank Fraud
There are different types of bank fraud that exist, such as stating false information on a loan application. The types of things that are looked at to determine if bank fraud has occurred include:
- Misrepresentation of information on an application
- Omission of details on an application
- Misstatement of assets or income
- A loan officer or other bank employee omitting or changing information in order to secure the loan
There are many other acts that can be considered bank fraud, but these are the most common types. The act can involve the consumer and it can involve employees within the bank. There have been a number of high profile cases that involve networks of individuals, including bank employees, which carry out fraudulent acts that result in the bank losing money.
Protecting Your Rights
Your Scottsdale Bank Fraud lawyer will protect your rights throughout the process of being investigated for Bank Fraud. However, it is possible that you may not be aware that you are being investigated. When that’s the case, you may be charged before knowing you were ever suspected of bank fraud.
If convicted of bank fraud, you could be facing jail or prison time, fines, restitution, lengthy probation, and all of the collateral consequences that come with a criminal conviction. The collateral consequences involve losing your job, having difficulty finding a job, having difficulty finding a place to live, and even getting a loan ever again. These are consequences that can affect you for the rest of your life.
To avoid all or as many of the consequences as possible, you can speak to your Scottsdale Bank Fraud attorney about this because you may have presented all information correctly, but the bank may have made the mistake. In the case of an administrative error, it is important to prove that fact.
Contact A Scottsdale Bank Fraud Attorney
Bank Fraud happens quite often in all states, but there are some individuals who may be accused of Bank Fraud when their intention was to not do so. This is something that has to be proven so the charges can be reduced or dismissed. To find out how Myles A. Schneider & Associates, LTD can help you, call the office at 602-926-7373 to schedule a free consultation.