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Bank Fraud Defense

Bank fraud is a complex area of the law, and those accused of having committed bank fraud often find themselves at a lack of understanding the grounds of their arrest as well as the charges being held against them. If you have been arrested for bank fraud in Los Angeles, or if you are under investigation or suspect you are under investigation,it is essential for you to learn as much as possible about your legal rights and potential options for defense. You need an experienced  Los Angeles bank fraud defense lawyer.

The Federal Bank Fraud Statute, 18 USC § 1344 states:

Whoever knowingly executes, or attempts to execute, a scheme or artifice–

  1. to defraud a financial institution; or
  2. to obtain any of the moneys, funds, credits, assets, securities or other property owned by, or under the custody or control of, a financial institution, by means of false or fraudulent pretenses, representations, or promises;

shall be fined not more than $1,000,000 or imprisoned not more than 30 years, or both.

A person may commit bank fraud in California by violating either of the two aforementioned subsections.

In order to prove beyond a reasonable doubt that you are guilty of bank fraud, the government must prove the following beyond a reasonable doubt:

  1. The defendant knowingly executed or attempted to execute a scheme or artifice to defraud;
  2. The defendant did defraud or attempt to defraud the financial institution;
  3. The defendant used a material misrepresentation or concealment of a material fact as part of the scheme or attempted scheme;
  4. The financial institution was insured or chartered by the federal government (United States v. Comer, 395 F.3d 1087 (9th Cir. 2005)).

The criminal law elements of a violation of section two of the Federal Bank Fraud Statute which must be proved by the government beyond a reasonable doubt are:

  1. The defendant knowingly executed or attempted to execute a scheme or artifice to obtain money (or other property) owned by, or under the custody or control of, a financial institution;
  2. The defendant used materially false or fraudulent pretenses, representations, or promises in the execution or attempted execution of the scheme;
  3. The financial institution was insured or chartered by the federal government (United States v. Neder, 527 U.S. 1 (1999)).

18 U.S.C. §1349 provides that:

Any person who attempts or conspires to commit any offense under this chapter shall be subject to the same penalties as those prescribed for the offense, the commission of which was the object of the attempt or conspiracy.

Therefore, if you have been charged with being involved in an attempt or conspiracy to commit bank fraud, even if the fraud was never executed, it is time to contact an experienced and versatile federal bank fraud attorney.

The Law Offices of Lawrence Wolf have significant experience handling cases involving bank fraud allegations, and are here to help guide you through the often intimidating federal legal system. Whether you have been arrested, indicted, or are merely the subject of investigation for bank fraud, please contact our law office today. We will begin a thorough investigation, and act quickly to assess your options and chart a course of action. We are here to protect your rights and, where possible, intervene before charges have been filed. If you have been, or believe that you may be accused of bank fraud, please do not delay.

CONTACT David Elden For  a Free Consultation: (800) 455-6200

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