Bank Fraud Charges In Houston
Bank fraud is a nonviolent way for a bank employee, director or officer to steal money by defrauding a financial institution. The federal government defines defrauding as “any illegal act that involves the use of deception to obtain money or property from a financial institution, or from a bank’s depositor” and “involves the use of a ‘scheme or artifice’ to obtain something of value.”
If you were accused by the state of Texas or indicted by the Department of Justice of perpetrating a bank fraud, you need to contact attorney Paul Morgan or another experienced federal criminal defense attorney as soon as possible. A conviction related to bank fraud can result in gigantic fines and lengthy prison sentences.
Addressing criminal charges of this nature should be handled by an attorney with respect for the many nuances involved with proving defendants charged with such offenses as guilty. In other words, it’s not always easy for a prosecutor to convince a jury that an intentional fraud occurred.
Federal Bank Fraud Offense Overview
Bank fraud is willful deception to steal money from a bank or depositor of a bank. It’s usually an inside job. It can also be an attempt or scheme intended to gain money at the expense of the bank, whether the scheme is ultimately successful or not. Examples of deceptive bank acts are misapplied deposits, check kiting, loans to noncreditworthy borrowers or embezzlement.
These are federal crimes because the institutions’ depositors are insured by the federal government through the FDIC or the National Credit Union Share Insurance Fund and are prosecuted under 18 U.S.C. § 656 and 657, the Federal Bank Fraud Statute.
A maximum conviction under the federal statute can result in up to 30 years in prison, a fine of up to $1 million, or a combination of the two. Every bank fraud indictment is prosecuted by the U.S. Department of Justice, and penalties are determined by Federal Sentencing Guideline.
Factors that are weighed in the determination of a sentence include the amount of money stolen, the nature of the offense, the length of time it went on, and any prior criminal history involving crimes of moral turpitude.
Accused Of Bank Fraud In Houston? Schedule A Meeting With Attorney Paul Morgan
If you believe you’re under investigation for bank fraud or are facing prosecution in federal court, you’ll need experienced legal counsel immediately. Feel free to either send Paul a private message via contact form or to call the law office immediately at 281-346-4351 to schedule a meeting with attorney Paul Morgan for a consultation regarding your case.