Congress passed the Federal Bank Fraud Act in 1984 as part of the Comprehensive Crime Control Act. The Act prohibits the knowing execution or attempt to execute a scheme or artifice (1) 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.
The penalties for bank fraud are hefty. A defendant faces up to 30 years imprisonment and a $1 million fine.
If you are facing a federal bank fraud prosecution, our attorneys can help. Not only do we have extensive experience as trial lawyers and commercial litigators, but also, we have backgrounds in economics, finance, and banking. We also know how to mount a defense by tapping into our network of forensic accountants and investigators.