Attorneys For Bank Fraud Phoenix
In its simplest terms, “fraud” means to gain some benefit by fooling or tricking someone else. The term is usually applied when someone gains money or property by lying to another person or to a government agency.
Bank fraud refers to the actions involved in illegally receiving money or property held by a banking institution. Banks have very specific rules they must follow in handling money and someone who lies or forges documents may be prosecuted if their actions cost the bank money.
There are several ways someone can be charged with bank fraud, but in most cases these charges involve an individual making a misrepresentation when borrowing or loaning money. Bank employees, loan officers, bank customers and others can all be charged with bank fraud depending on the circumstances of the alleged crime.
For example, the recent nationwide mortgage loan disaster brought to light many practices that ultimately resulted in criminal charges for some bank officials. Many people were charged with approving mortgage loans that did not meet basic requirements in order to get more business for their financial institutions. While not every loan officer was arrested who participated in this type of activity, the recent revelation of bad bank conduct has led to a heightened awareness of loan officer activities.
The severity of a bank fraud charge depends on where and how you are charged. Someone charged in Arizona with fraud may be facing only a misdemeanor charge that may even be dismissed with proper restitution. On the other hand, if you are facing federal charges in combination with wire fraud or conspiracy, you are going to need a much greater degree of legal representation and a much stronger defense team.
Those who have been charged with bank fraud also need to consider the implications of a conviction to their career. If you are a bank officer who has been charged with illegally handling funds, you may never work in the banking industry again if you are convicted. This makes even a misdemeanor conviction a serious problem.
A criminal defense attorney can help you protect your rights when you are facing bank fraud charges and exercise your ability to defend yourself against these charges. It is very important for anyone facing criminal fraud actions to take all the steps possible to reduce or eliminate these charges, minimize costs and preserve his or her clean record.