Bank Fraud And What It Means For You
If you’ve been arrested for bank fraud, you know how serious these charges are. Bank fraud charges can jeopardize your professional and personal future, meaning you need an experienced South Carolina bank fraud attorney who will aggressively provide you a federal criminal defense to help you avoid the stiff penalties that come with an indictment and conviction.
What Constitutes Bank Fraud?
Common reasons for being charged with federal bank fraud include:
- Making a false statement to a loan officer or bank official;
- Deceiving a bank;
- Falsifying loan documents;
- Check fraud;
- Forging check signatures;
- ATM fraud;
- Embezzlement; or
- Federal bank fraud cases can also center on the wiring of money or information used to deceive individuals, businesses, or customers.
If you transfer money to an offshore or international bank, that may be a legal transaction, but if you’re transferring money to an offshore or international bank for nefarious reasons (to hide a crime), you may face extremely serious criminal charges.
Bank Fraud Penalties
Some possible penalties for your committing bank fraud can be very severe and not to be taken lightly. Such penalties include:
- Being fined up to $1,000,000 and/or 30 years in prison if your action(s) affect a financial institution
- If you’ve already been convicted of two or more bank fraud felonies, you can expect to have additional fines and longer prison time tacked onto your already stiff penalties.
- Even if you are associated with bank fraud—it’s a crime in which you may be penalized. Assisting in any way, however small, or participating in the cover up of illegal activities will be punished to the fullest extent of the law.
It is crucial that you seek out an experienced bank fraud attorney at the earliest possible availability to have them sort through your facts and evidence and plan you a strategic defense to minimize your prison time and fines.