Federal Bank Fraud

Under federal law, it is illegal to execute a scheme to defraud a financial institution; or 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. A person convicted of this offense shall be fined not more than $1,000,000 or imprisoned not more than 30 years, or both.

Federal law also punishes false statements made in connection with obtaining loans. It is unlawful to make any false statement or report. A person convicted of this offense will also be fined not more than $1,000,000 or imprisoned not more than 30 years, or both.

Significant cases:

• United States v. McCarrick - To support a charge of bank fraud, the government must show that the defendant intentionally participated in a scheme to defraud another of money or property, and that the intended victim was a federally-insured financial institution. To convict under false statement bank fraud, the government must demonstrate that a scheme existed to obtain moneys, funds; or credit, that the defendant participated in the scheme by means of material false pretenses, relegations or promises; and that the defendant acted knowingly.
• United States v. Dennis - The government is required to prove the federally-insured status of the affected institution as this is both a jurisdictional element as well as a prerequisite of the crime.
• United States v. Key - The defendant's awareness of the institution's federally insured status does not matter.

Our Atlanta Georgia criminal defense law firm has extensive experience in defending serious federal bank fraud cases in the metro areas of Atlanta, Athens, Macon, Augusta, Savannah, Rome, Columbus, Albany, Valdosta, and in other Georgia federal courts. Contact one of our Atlanta criminal lawyers if you need an attorney who has successfully resolved federal bank fraud cases.

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