Resolute Miami Bank Fraud Attorney
By the time bank fraud charges are filed, very often the Government’s case is already prepared. Given that this pre-filing process may take months or even years before an Information is filed or an Indictment returned, it is imperative that the accused no waste anytime mounting his or her defense. To do that properly, one should contact a top bank fraud attorney like Jordan Redavid.
What is Bank Fraud?
At the federal level, which is where most of these cases are prosecuted, “bank fraud” is a white collar crime that occurs when someone knowingly executes, or attempts to execute, a scheme or artifice to either defraud a financial institution, or to obtain any of the money, funds, credits, assets, securities, or other property owned by, or under the custody and control of, a financial institution. 18 U.S.C. § 1344.
When broken down into its parts, the law prohibiting bank fraud covers a wide array of potential activity. From lying on a loan application to passing bad checks, the federal law casts a wide net.
If convicted, bank fraud is punishable by up to $1,000,000 in fines and 30 years of imprisonment. This doesn’t even fully consider making restitution to the victims. Sometimes the restitution amount will exceed the fine, and depending on the person, be the most severe portion of any sentence. So much work can be done by an effective lawyer to both try and resolve the case favorably, and even after that, try to accomplish low restitution amounts, prison time, etc.
These cases are built, not discovered. Meaning, these are not usually 1-2 eyewitness cases. Because of the nature of the crime, which is defrauding a financial institution, so many levels of government are often involved in fully discovering each and every perpetrator, instance, and sometimes monitoring the crimes as they continue to occur under surveillance. Sometimes people who are being investigated will have no idea; other times, whether it be because their employer or a police agent questions them, they have a very good idea. The point is this: if you or a loved one feel as though an investigation into bank fraud is occurring, you should consult an expert Miami bank fraud lawyer like Jordan Redavid. It’s never too early to begin preparing a defense. It’s also possible that the Government may agree not to file charges if adequate mitigation, alibi, or cooperation is presented.