Bank Fraud Attorneys
If you’ve been charged with federal bank fraud in New Jersey, taking immediate action is crucial. Navigating the complexities of federal laws alone could lead to severe consequences, including hefty fines and substantial prison time. The Law Offices of Jonathan F. Marshall has a team of seasoned attorneys who specialize in federal criminal defense, offering you the expertise needed to challenge these serious allegations. With a proven track record and decades of combined experience, our lawyers will diligently work to protect your rights and formulate a strategic defense tailored just for you. Don’t risk your future; take control by contacting us today at (855) 927-0372 or reach out to us online to schedule your confidential consultation.
Bank fraud is a serious federal offense in the United States. Governed by 18 U.S.C. Section 1344, this law targets anyone who knowingly executes or tries to execute a fraudulent scheme with the intention of defrauding a financial institution or obtaining assets from a financial institution through false or misleading means. Understanding this law is crucial for anyone facing bank fraud charges, as the penalties can be severe, including imprisonment and heavy fines.
The Language Of The Law
18 U.S.C. § 1344 lays out the definition of bank fraud in two broad categories:
- A scheme to defraud a financial institution: Here, the person must have a deliberate plan aimed at cheating a bank or another financial entity.
- A scheme to obtain assets from a financial institution through deceit: This part covers attempts to secure any kind of asset—money, securities, credits, etc.—from a bank by making false statements or promises.
It’s important to note that the attempt to defraud is itself a crime, even if the scheme is unsuccessful.
Penalties You Could Face
If you’re found guilty under 18 U.S.C. § 1344, the penalties are stiff. You could face up to 30 years in federal prison and a fine of as much as $1,000,000. It’s also possible to face both imprisonment and a fine.
Potential Defenses To 18 U.S.C. § 1344: Bank Fraud Charges
Importance Of Mens Rea: Knowing Intent
One of the key elements in the statute is the term “knowingly.” The prosecution must prove that the defendant had the intent to defraud or deceive the bank. This offers the first avenue for defense. If you can demonstrate that your actions were not intentional, or that you were not aware that your actions would lead to fraud, this can be a solid defense against bank fraud charges.
Lack Of Evidence For A “Scheme”
The prosecution must show that there was a “scheme or artifice” to defraud. Simply put, this requires more than just an isolated incident or mistake. The existence of a systematic plan must be proven. Challenging the adequacy of this evidence can be another line of defense. If the actions can be attributed to a mistake, miscommunication, or any other reason that doesn’t involve a deliberate scheme, then the charges may not stand.
Good Faith Defense
The Good Faith defense relies on the premise that the defendant had a genuine belief that their actions were legal and not part of a fraudulent scheme. Demonstrating that you acted in good faith can sometimes serve as a defense. For instance, if you relied on legal or financial counsel in taking the actions you did, this could be used to support a Good Faith defense.
Absence Of Intent To Defraud The Bank
Another angle for defense focuses on the target of the alleged fraud. If your actions were deceitful but not aimed at defrauding the bank itself (for example, you intended to defraud a third party), then you may be able to argue that your actions do not fall under 18 U.S.C. § 1344. This is a complex argument that would require careful handling by your attorney.
False Accusations Or Misidentification
It’s not uncommon for people to be falsely accused or misidentified, particularly in complex financial investigations. Your defense may also focus on proving that you are not the perpetrator of the alleged scheme or that you were wrongly accused due to error or malice.
Additional Thoughts About Defending Against Federal Bank Fraud Charges
Each defense strategy must be tailored to the specifics of your case. Often, multiple defenses can be employed in tandem to create a robust strategy against bank fraud charges under 18 U.S.C. § 1344. Due to the severe penalties, seeking legal representation should be a priority for anyone facing such charges. Legal professionals can navigate the complicated landscape of federal law and employ the most fitting defenses for your unique situation.
Frequently Asked Questions On The Federal Bank Fraud Statute
What Is 18 U.S.C. § 1344?
18 U.S.C. § 1344 is the federal statute that defines and criminalizes bank fraud. This law covers schemes that aim to defraud a financial institution or obtain assets from it through false or misleading means.
What Constitutes A “Scheme” In Bank Fraud?
A “scheme” is generally understood as a planned course of action designed to defraud a bank or obtain assets from it unlawfully. It has to involve intentional deceit, false statements, or misrepresentation. Single isolated actions are usually not enough to constitute a “scheme” under this law.
What Is The Punishment For Violating 18 U.S.C. § 1344?
The punishment for violating this statute can be severe. You could face up to 30 years in federal prison and/or fines up to $1,000,000. It’s worth noting that attempting to commit bank fraud also falls under this statute and carries the same penalties.
Do I Need To Successfully Defraud The Bank To Be Charged?
No, even the attempt to execute a fraudulent scheme against a bank can result in charges under 18 U.S.C. § 1344. The law specifically mentions “attempts to execute” a scheme as being punishable.
What Does “Knowingly” Mean In The Context Of This Statute?
The term “knowingly” implies that the accused was aware of the fraudulent nature of their actions. The prosecution must prove that you had the intent to defraud, making the mental state a key element in such cases.
Can I Be Charged Under State Laws As Well?
Yes, you can be charged under state laws in addition to facing federal charges. State laws on fraud can vary widely, but they often have less severe penalties compared to federal laws. However, you could face double jeopardy if charged for the same act under both federal and state laws, although there are exceptions to this.
How Can I Defend Myself Against Charges Under 18 U.S.C. § 1344?
Defense strategies can range from challenging the evidence that proves a “scheme” to questioning the “knowing” intent required for conviction. Other defenses can include demonstrating a lack of intent to defraud the bank, showing that you acted in good faith, or proving false accusations or misidentification. Because of the complexity and severity of this law, hiring an experienced criminal defense attorney is highly recommended.
Do I Need A Lawyer Focused In Federal Offenses?
Yes, it’s advisable to seek a criminal defense attorney who focuses in federal offenses. Federal laws, including 18 U.S.C. § 1344, are complex and require a different level of expertise compared to state laws.
What Are The Chances Of Plea Bargaining?
While it’s difficult to generalize, plea bargains are sometimes possible in federal cases, including those involving bank fraud. This usually involves pleading guilty to a lesser charge in return for a lighter sentence. However, the decision to enter a plea should be made in consultation with your legal advisor.
Related Offenses To 18 U.S.C. § 1344
18 U.S.C. § 1344 specifically deals with bank fraud (e.g., defrauding a federal deposit insurance corporation (FDIC) insured bank), a federal offense that involves knowingly executing or attempting to execute a scheme aimed at defrauding a financial institution or obtaining assets from such an institution through deceit. However, this is just one type of fraud offense under federal law. There are several other statutes that deal with different kinds of fraud, each with its own set of rules, regulations, and penalties.
Wire Fraud: 18 U.S.C. § 1343
One of the closely related offenses to bank fraud is wire fraud, governed by 18 U.S.C. § 1343. This statute criminalizes the use of wire, radio, or television communication in executing a fraudulent scheme. Like bank fraud, wire fraud is a federal offense with severe penalties that may include significant prison time and fines. It covers schemes that may not necessarily target financial institutions but use electronic means to defraud others through false or fraudulent pretenses.
Mail Fraud: 18 U.S.C. § 1341
Another related offense is mail fraud, codified in 18 U.S.C. § 1341. This statute deals with the use of the U.S. Postal Service or private interstate mail carriers as a means to carry out a fraudulent scheme. Although the method differs from bank fraud, the intent to defraud remains the core element of the crime. Penalties for mail fraud can be quite severe, much like defrauding banks or credit unions.
Securities Fraud: 15 U.S.C. §§ 78j, 78ff
Securities fraud is another related area, often involving complex financial transactions and investments. This is regulated by the Securities Exchange Act of 1934, specifically 15 U.S.C. §§ 78j and 78ff. Individuals can be charged with securities fraud for activities like insider trading, making false statements about a company’s financial condition, or manipulating market prices.
Identity Theft: 18 U.S.C. § 1028
Identity theft under 18 U.S.C. § 1028 is also somewhat related to bank fraud, especially when bank fraud is committed using stolen or false identification. This law criminalizes the knowing transfer, possession, or use of another person’s identification with the intent to commit unlawful activity.
Credit Card Fraud: 18 U.S.C. § 1029
This statute addresses fraud that involves access devices, like credit and debit cards. If someone knowingly uses, produces, or traffics in counterfeit or unauthorized access devices, they can be charged under this statute.
Conspiracy To Commit Fraud: 18 U.S.C. § 371
The conspiracy to commit any of the above fraud offenses can be a charge on its own, governed by 18 U.S.C. § 371. Under this law, if two or more persons conspire to defraud the United States or any agency thereof, they can be subject to criminal charges, even if the fraud itself was not completed.
Facing A Bank Fraud Charge? Retain A Bank Fraud Attorney Before It’s Too Late
If you’ve been charged with federal bank fraud in New Jersey, the stakes couldn’t be higher. Your freedom, reputation, and financial future are on the line. The Law Offices of Jonathan F. Marshall has an experienced team of attorneys who specialize in federal criminal defense, and they understand the complex nature of bank fraud cases. Don’t leave your fate to chance; you need aggressive, knowledgeable representation to navigate the intricacies of federal law. Your first move should be to contact us immediately for a confidential consultation. Call us now at (855) 927-0372 or reach out to us online to discuss your options and formulate a strategy tailored just for you. Time is of the essence; act now to protect your rights if you are accused of defrauding a bank or financial institution.
Fraud offenses are a complex area of law with multiple related offenses that can carry severe penalties. Whether it’s bank fraud under 18 U.S.C. § 1344 or any other related federal fraud statute, understanding the legal landscape is critical for anyone facing such charges. Hiring a bank fraud lawyer is not just advisable but essential for negotiating the intricacies of these laws.
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