Las Vegas Federal Bank Fraud Defense Attorney
Bank fraud is a serious federal crime that involves using deceptive practices to defraud financial institutions like banks or credit unions. Prosecuted under 18 U.S.C. § 1344, this offense encompasses a wide range of fraudulent activities, from falsifying loan documents to engaging in check fraud or embezzling funds. Because of the potential impact on financial systems and the economy, bank fraud cases are aggressively pursued by federal authorities.
At Hofland & Tomsheck, attorney Josh Tomsheck, a Nationally Board Certified Criminal Lawyer with extensive experience in federal court, is dedicated to providing a robust defense against bank fraud charges. If you are under investigation or facing bank fraud charges, we are here to protect your rights and build a strong defense.
What Is Bank Fraud?
Bank fraud, as defined under 18 U.S.C. § 1344, occurs when an individual knowingly executes or attempts to execute a scheme to defraud a financial institution or to obtain money, assets, or property owned by or under the control of a financial institution through false or fraudulent pretenses.
The essential elements of bank fraud include:
The defendant knowingly engaged in a scheme to defraud a bank or financial institution.
The defendant acted with the intent to deceive and cause financial harm.
The fraudulent actions were material and had the potential to affect the financial institution.
Common examples of bank fraud include:
Falsifying loan applications: Submitting false information or forged documents to obtain a loan.
Check kiting: Writing checks from an account without sufficient funds, creating a false balance in the process.
Embezzlement: Diverting funds from a financial institution for personal gain.
Identity theft: Using stolen personal information to open fraudulent accounts or obtain lines of credit.
Case Law and Legal Precedents for Bank Fraud
The legal interpretation of bank fraud has been shaped by several important cases. In Loughrin v. United States, 573 U.S. 351 (2014), the Supreme Court clarified that the government does not have to prove that the defendant specifically intended to defraud a financial institution if the defendant engaged in a scheme that exposed the bank to fraud. This case expanded the scope of bank fraud prosecution, allowing for convictions even when the financial institution was not the primary target.
In United States v. Brandon, 17 F.3d 409 (1st Cir. 1994), the courts reaffirmed that even schemes designed to take advantage of weaknesses in the bank's internal processes (such as exploiting ATM systems) can result in bank fraud convictions. Courts have also held that the mere intent to deceive is sufficient for a bank fraud conviction, even if the scheme does not ultimately succeed.
Penalties for Bank Fraud
Bank fraud is one of the most serious types of white-collar crime, and the penalties reflect that. A conviction for bank fraud can result in:
Fines: Defendants convicted of bank fraud may be ordered to pay substantial fines, sometimes exceeding hundreds of thousands or even millions of dollars, depending on the scale of the fraud.
Imprisonment: The statutory maximum penalty for bank fraud is up to 30 years in federal prison. This severe penalty is designed to deter fraudulent behavior that could undermine financial institutions.
Restitution: Convicted individuals are often required to pay restitution, reimbursing the financial institution or other victims for their losses. The amount of restitution depends on the total financial damage caused by the fraudulent scheme.
Sentencing is determined using the U.S. Sentencing Guidelines, which take into account various factors, such as the amount of financial loss, the defendant's role in the scheme, and the number of victims. In large-scale cases involving significant financial harm, sentences can be enhanced under these guidelines.
Federal Investigations and Bank Fraud
Bank fraud cases are typically investigated by federal agencies such as the Federal Bureau of Investigation (FBI) and the Secret Service, often working in collaboration with the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC). These investigations are thorough and involve the analysis of financial records, wire transfers, loan documents, and other related materials.
Federal investigators often use subpoenas, search warrants, and surveillance techniques to build their case, making it essential to consult an attorney as soon as you believe you may be under investigation. Early intervention by a skilled defense attorney can protect your rights and prevent mistakes that could jeopardize your defense.
Defenses Against Bank Fraud Charges
At Hofland & Tomsheck, we take a strategic approach to defending against bank fraud charges, examining every aspect of the case to identify potential weaknesses in the government's case. Common defenses to bank fraud charges include:
Lack of Intent: One of the key elements in any bank fraud case is the intent to defraud. If the prosecution cannot prove that the defendant knowingly engaged in a fraudulent scheme with the intent to deceive, the charges may not stand.
No Scheme to Defraud: If the defendant's actions were part of a legitimate business transaction or if there was no intent to cause financial harm to the institution, this can serve as a valid defense.
Mistake of Fact: In some cases, individuals may unknowingly submit incorrect information on loan applications or other financial documents. If the mistake was unintentional, this can be used as a defense.
Challenging Evidence: Bank fraud cases often involve complex financial records and electronic communications. Our defense team thoroughly examines the prosecution's evidence to identify any inconsistencies, errors, or violations of your rights during the investigation.
Sentencing Guidelines for Bank Fraud
Federal sentencing for bank fraud is governed by the U.S. Sentencing Guidelines, which consider several factors when determining the appropriate penalty:
Amount of financial loss: Larger financial losses generally result in more severe penalties.
Number of victims: A higher number of victims can increase the severity of the sentence.
Role in the offense: Defendants who play a leading role in the fraudulent scheme may receive harsher sentences than those who played a minor role.
In addition to these factors, aggravating circumstances, such as using sophisticated means to carry out the fraud or targeting vulnerable victims, can enhance the sentence. Federal judges have some discretion in applying these guidelines but generally follow the advisory sentencing range.
Why Choose Josh Tomsheck for Your Bank Fraud Defense
If you are facing bank fraud charges, choosing an experienced federal defense attorney is critical. Josh Tomsheck has a deep understanding of federal bank fraud laws and the tactics used by federal prosecutors to build their cases. As a Nationally Board Certified Criminal Lawyer with a background as a former prosecutor, Josh has the unique ability to anticipate the government's strategy and craft a defense designed to challenge the prosecution's case.
Our team at Hofland & Tomsheck is committed to providing personalized legal support, ensuring that every client receives the best possible defense.
Schedule Your Free, Confidential Consultation Today
If you are under investigation or facing federal bank fraud charges, don't wait to seek legal advice. Contact Hofland & Tomsheck today to schedule a free, confidential consultation with Josh Tomsheck. We offer flexible consultation options, including in-person meetings, phone consultations, and Zoom meetings.
Call us at (702) 895-6760, or visit our office at 228 S. 4th Street, First Floor, Las Vegas, NV 89101. Let us help you protect your rights and build a strong defense against federal bank fraud charges.
