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There can be no misunderstanding about the profound seriousness with which criminal acts against financial institutions are viewed by the federal authorities. When this type of conduct is suspected, the massive resources of the government are invariably used in investigating and prosecuting offenders.
Because the penalties faced upon conviction are severe, the help of a Michigan federal bank fraud lawyer may be extremely important. A skilled federal fraud attorney could thoroughly review all the facts and evidence to help create an aggressive defense strategy.Federal Bank Fraud Fundamentals
According to Title 18 U.S.C. §1344, it is a crime to defraud a federal financial institution of securities, property, or money. Conspiracy to commit fraud and attempted fraud are also crimes that bring identical penalties to bank fraud itself. Allegations of bank fraud are regularly lodged against those who are employed by financial institutions as well as others who may be involved in schemes to defraud those entities.
Falling under the protection of the bank fraud statute are institutions that are insured by the FDIC or the NCUA, banks chartered under federal law, and federally backed mortgage companies. Anyone with questions about allegations of bank fraud should consult with a Michigan federal bank fraud lawyer.Common Scenarios in Michigan
Bank fraud can occur in a variety of ways, but common to all of them is the presence of deception or subterfuge designed to unlawfully secure funds from a financial institution. Some frequently prosecuted conduct in this category includes:
- Dishonesty in connection with a loan application
- Making empty ATM deposits
- Engaging in phishing scams
- Identity theft
- Fraudulent accounting practices/falsified books
- Depositing forged or stolen checks
- Fraudulent structuring of currency trades
- Unauthorized utilization of debit or credit cards
It should be noted that when bank fraud charges are issued, additional allegations such as money laundering, tax fraud, wire fraud, conspiracy, embezzlement, and/or violations of the Racketeer Influenced and Corrupt Organizations Act are also filed.Effective Defense Strategies
An individual who is found guilty of bank fraud, conspiracy to commit bank fraud, or attempted bank fraud faces a possible prison sentence of 30 years and fines that reach upwards of $1 million. As such, it is critical for accused parties to fight aggressively to defend their futures and their freedom.
While the situation may initially appear quite dire, there are a number of defense tactics that may be available and effective in the hands of a seasoned Michigan bank fraud attorney. A skilled lawyer could delve into the facts of each case to determine whether it can be argued that the defendant did not execute the alleged scheme in a knowing manner, that they did not defraud the financial entity in question, or that they did not conceal material facts in obtaining funds. Alternatively, it may be possible to undermine the prosecution simply by establishing that the bank in question was not among the types explicitly protected by the federal statute.Talk to a Michigan Federal Bank Fraud Attorney Today
Being accused of bank fraud is something that is certain to bring about feelings of worry, doubt, and confusion. Considering the stringent punishments likely to be handed down upon conviction, the time to begin fighting back is now.
If you are facing this sort of allegation, a Michigan federal bank fraud lawyer could work tirelessly to help you fight the charges and protect your future. Call today to set up a free consultation to learn more.