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Bank Fraud

Bank Fraud is codified pursuant to 18 U.S.C. 1344:

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

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.

To prove the crime of Bank Fraud, the government must show:

  • The defendant knowingly executed or attempted to execute a scheme or artifice to defraud.
  • The defendant did defraud or attempt to defraud the financial institution.
  • The defendant used a material misrepresentation or concealment of a material fact as part of the scheme or attempted scheme.
  • The financial institution was insured or chartered by the federal government.

A person who is convicted of Bank Fraud can be sentenced up to 30 years in a federal prison and/or a fine not more than $1,000,000.

For a free consultation to see how David J. Sobel can defend you, contact Mr. Sobel at 954-383-3000.  You will be able to speak directly with Fort Lauderdale Criminal Defense Lawyer David J. Sobel 24/7.