Fraud against a financial institution means misrepresenting one or more critical facts to receive a benefit at the institution’s expense. It is a serious crime that could lead to hefty fines and a lengthy prison term.

If you are being investigated for fraud on a bank, credit union, or other financial institution, get in touch with a Greenville financial institution fraud lawyer immediately. A local white-collar criminal defense attorney could protect your rights during the investigation and work on dismissing the charges or settling the matter with minimal damage to your reputation.

Laws Governing Bank Fraud

Charges of defrauding a financial institution usually arise from 18 United States Code § 1344. This law makes it illegal to engage, or attempt to engage, in any scheme to obtain money or something else of value from a financial institution by fraud or false pretenses. The law applies to financial institutions insured by the Federal Deposit Insurance Corporation (FDIC) or that hold a federal charter. Almost every financial institution operating in the United States falls under this umbrella.

The broad definition also covers other various kinds of fraudulent conduct. Some of the crimes that could fall within the meaning of financial institution fraud include:

  • Embezzling from a bank
  • Hacking into consumer or business accounts held in a financial institution
  • Credit card fraud
  • Providing false information on a loan application
  • Identity theft
  • Check fraud

In many cases, someone facing charges of fraud against a financial institution could also face charges like money laundering, income tax evasion, wire fraud, and other federal crimes. Working with a Greenville attorney with experience defending people accused of federal crimes such as bank fraud is imperative to protecting one’s future prospects.

Defending a Bank Fraud Case

Bank fraud cases sometimes result from tips from disgruntled former employees or business competitors. A savvy legal professional could investigate the tipster’s motives and question their credibility.

Additionally, the prosecutor must prove that the accused knowingly provided false information, the bank relied on it, and the bank suffered a loss because of its reliance on the false statement. Depending on the facts of the case, a legal professional could cast doubt on any of the elements the prosecution must prove.

A Greenville defense attorney could invest their time and resources into studying a case made against the accused regarding financial institution fraud. They could examine documents to pinpoint and exploit the weaknesses in the prosecution’s case.

Consequences of a Conviction

Someone convicted of fraud on a financial institution faces a potential penalty of a $1,000,000 fine and up to 30 years in prison. Even first offenders could face substantial jail time.

Apart from the consequences upon conviction, simply being charged with bank fraud could devastate the accused’s personal and professional life. The reputational damage of the charges is severe.

Contact a Greenville Financial Institution Fraud Attorney for a Skilled Defense

If you know or have reason to believe you are being investigated for bank fraud, get legal representation immediately. A Greenville financial institution fraud lawyer could examine the evidence, identify weaknesses in the prosecutor’s case, and try to convince them to forego an indictment and prosecution.

At Bill Nettles Attorney at Law, our team has extensive experience representing clients in situations like yours. Call today to work with an attorney who is uniquely qualified to seek the best possible legal outcome in your situation.

Logo icon
Logo icon
Logo icon
Logo icon
Logo icon
Logo icon
Logo icon