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When You Have Been Charged With Bank Fraud

Last updated on January 18, 2024

Charges of bank fraud are serious, and additional charges that add to your penalties are common. You need to be sure that your criminal defense attorney will build a defense that will protect your rights. Not only does your lawyer need to have the skills necessary to navigate these highly detailed cases, but they also need to have the tenacity to present the facts of your case in court.

At Sapone & Petrillo, LLP, our team has years of criminal defense experience. Our New York City and Long Island attorneys fight for our clients’ rights in and out of court, and they defend clients in state and federal courts across the United States. If you are facing accusations or charges of fraud, our federal criminal attorneys will be aggressive in defending you and working to create the best possible results for your case.

What Constitutes Bank Fraud?

Bank fraud is a fraud crime to obtain property, including money and other assets, held by a financial institution – it can come in various forms. These include:

  • Overestimation of the value of real estate during appraisals
  • Fraudulent loan applications
  • Empty deposit envelopes left in ATMs
  • Duplication of credit card information
  • Forged documents

Bank fraud can be tried on the state or federal level, and the punishments you could receive for a guilty verdict could be severe. On the federal level, you could face penalties that include decades of imprisonment, thousands of dollars in fines or potentially, both.

Because the forms that this crime can take are broad, building a case using the particulars of the charges is essential. This can require an attorney who has experience in navigating complex financial transactions and knows how to use the details of your case to fight back against these charges.

When Is Bank Fraud A Federal Charge Vs. A State Charge?

The main difference between state and federal bank fraud charges is jurisdiction. For example, if you are accused of a fraudulent bank transaction that crosses state lines, then you’ll likely face federal charges. However, if those transactions don’t leave New York, then you’ll likely face state charges.

Which Crimes Are Considered Bank Fraud?

Here are a few examples of bank fraud crimes:

  • Identity theft: Using someone’s personal information to steal money or take out credit cards in their name
  • Loan fraud: Applying for a loan using someone else’s information or fake information
  • Credit card fraud: Using someone else’s credit card to make purchases without their knowledge
  • ATM: Using technology to capture people’s banking information from an ATM
  • Wire fraud: Illegally transferring money between bank accounts
  • Check fraud: Altering an actual check or generating a fake one to take money from someone’s bank account
  • Phishing: Pretending to be a bank and asking for account information and other personal details to steal money
  • Mortgage fraud: Putting false information on a mortgage application to get more favorable terms on a loan agreement. Mortgage fraud can also be used by banking and finance professionals to steal from lenders or borrowers

If you have been accused of a bank fraud crime, it is important to seek effective legal counsel as soon as possible. Our federal defense attorneys have extensive experience representing clients accused of bank fraud crimes.

What Are The Penalties For Bank Fraud?

The penalties can vary, depending on whether the fraud is a state or federal offense. In New York, if your case involves $50,000 to $1 million, then you could face up to 15 years in state prison. If the amount of money you’re dealing with exceeds $1 million, then you could face up to 25 years in prison.

The penalties for federal bank fraud charges can depend on whether the charge is a misdemeanor or a felony. For felony federal bank fraud charges, you could face up to 30 years in prison and pay up to $1 million in fines. Federal misdemeanor bank fraud charges can vary, depending on the money involved.

Begin Building Your Defense Today

Bank fraud charges are serious, but a New York City federal criminal defense attorney can help you protect your rights and freedom. To begin a conversation with an experienced federal crimes lawyer, call 646-844-3445​ or contact us online today.