White collar crimes serious offenses in South Carolina (SC) and in the United States of America (USA). A white collar bank fraud or mortgage fraud criminal conviction can change the life consequences for defendants convicted of the same. If a client under investigation or indictment or charged or indicted in another way, the crime "of white collar bank fraud or mortgage fraud, a physician should be familiar with the basics of bank fraud and mortgage fraudJurisprudence.
The Federal Bank Fraud Statute, 18 USC 1344, generally provides that whoever knowingly executes, or attempts to execute a program or a ruse to defraud a financial institution or to any of the money to get funds, loans, assets, securities or other assets owned or under the supervision or control of a financial institution by false or fraudulent pretenses, representations, or promises, to a fine not exceeding $ 1,000,000 or imprisoned notmore than 30 years, or both.
While the two subsections of 18 USC ban 1344 slightly different behavior, a person can bank fraud by violating either subsection. The courts have ruled that the two subsections of 18 USC 1344 are in the disjunctive, so that a single bank to commit fraud in connection with the first determination by fraud, a financial institution, without the false or fraudulent representations may be required by the second determination.
Criminal lawElements of a violation of § One of the Federal Bank Fraud Statute, which may be contained in an indictment and must be proved beyond a reasonable doubt by the government, are as follows:
(1) The defendant knowingly executed or attempted to execute a scheme or artifice to defraud;
(2) the defendant to defraud or attempt to defraud the financial institution;
(3) The defendant used a material misrepresentation or concealment of a material fact as part of the schemeor attempted settlement;
(4) The financial institution was insured or chartered by the federal government.
Federal courts have bank fraud convictions for the prosecution, the element of a material misrepresentation of fact argue the reverse.
The criminal law elements of a bank fraud contrary to § Two Federal Bank Fraud Statute to be included in an indictment, and must, it will be proved by the government beyond a reasonable doubtare as follows:
(1) The defendant knowingly executed or attempted to execute a scheme or artifice to obtain money (or other property) owned or under the supervision or control of a financial institution;
(2) The defendant used materially false or fraudulent pretenses, representations or promises in the execution or attempting execution of the scheme;
(3) The financial institution was insured or chartered by the federal government.
The Supreme Court has established thata matter as a "material" if a reasonable person would be its relevance to the existence or nonexistence in determining the choice set of the action in the transaction in question. The Second Circuit Court of Appeals has influence as a material misrepresentation to a bank defines the measures. While the issue of materiality used as a legal matter, federal courts have now ruled that the materiality of an issue that must be submitted to the jury, not is decided by theJudge.
With regard to the Bundesbank's anti-fraud statutes, a "financial institution" includes an FDIC-insured depository bank institution, a government-insured credit union, a Federal Home Loan Bank or a member of a Farm Credit Bank, a small business investment company, and a Federal Reserve bank.
The government is not required, gives an actual loss to the financial institution, so long as there is evidence that the defendant reveal to cover the institution to provesuch a loss.
The term "scheme or artifice to defraud 'includes a scheme or artifice to another of the intangible right to honest services to take, and the movement was largely interpreted by the courts. It usually requires that the defendant act with the specific intent to deceive or to defraud a bank to an end, financial gain for themselves or lead to financial losses for the bank. The term "system to defraud" is not capable of precise definition. Fraud is heldmeasured in a specific case, consider whether the scheme demonstrated a departure from fundamental honesty, moral uprightness, or fair and honest dealing in the general life of the community. "). Depending on how a bank fraud charged in an indictment, a system with multiple controls may or may not be a 4th bank fraud. United States v. Brandon, 298 F.3d 307 (Cir. 2002) (stolen and counterfeit checks constituted bank fraud), United States v. Celesia, 945 F.2d 756 (4th Cir. 1991)(see kiting scheme constituted bank fraud), United States v. Orr, 932 F.2d 330 (4. Cir. 1991) (statement of lack of funds did not constitute bank fraud cashed) check.
An attempt or conspiracy to bank fraud under the same criminal penalties as the substantive bank fraud. 18 USC sees 1349 as follows: Any person who attempts or conspired to commit an offense under this chapter shall apply the same penalties as prescribed for the offense,The Commission was the object of the attempt or conspiracy.
The statute of limitations for a federal bank fraud case is 10 years.
There are a number of other federal laws prohibiting fraud against the banks or other similar financial institutions, including, but not necessarily limited to the following: 18 USC 1004 certification of the controls; 18 USC 1005 bank entries, reports and transactions, 18 USC 1006 Federal credit institution entriesReports and transactions, 18 USC 1007 Federal Deposit Insurance Corporation transactions, 18 USC 1013 Farm loan bonds and credit bank debentures, 18 USC 1014 loan and credit applications, renewals, discounts, and crop insurance, 18 USC 1029 Fraud and related activity in connection with access devices, and 18 USC 1032 Concealment of assets from conservator, receiver, or liquidating agent of financial institution.
Conviction regarding federal bank fraudInjury is usually from the statutory factors listed in 18 USC 3553 (a) and section 2B1.1 of the United States Sentencing Guidelines set, which today are on the advisory and not binding. The statutory factors are a federal court must consider when imposing a sentence, the nature and circumstances of the offense and the history and characteristics of the defendant, the need for the sentence imposed reflects the seriousness of the offense, to promote respect for the rule of law,and provide just punishment for the offense, make the need to deter criminal behavior appropriate to the need to protect the public from further crimes of the defendant, the need for the defendant with needed educational or vocational training, medical care or other correctional facility providing treatment the most effective manner the kinds of sentences available, the rate recommended by the sentencing guidelines and any applicable guidelines or policy statement to the needSentence to avoid differences, and the need for restitution. In general, Section 2B1.1 of the Sentencing Guidelines bank fraud loss rates are tied to the amount of money, or the intended loss, after the bank fraud scheme. As a rule, those who lost more money in a bank fraud scheme, the longer the sentence.
There is a South Carolina bank fraud law, which parallels the federal law. South Carolina prohibits bank fraud, which is a crime with the class Ea penalty of up to ten years imprisonment and / or well up to 10,000 U.S. dollars. SC Code Section 34-3-110 provides as follows: (A) A person who knowingly can not run or try to execute, a scheme or a trick: to deceive (1) a federally chartered or insured financial institution or (get 2) for money, funds, credits, assets, securities or other property or under the custody and control of possession of a federally chartered or insured financial institution by false or fraudulent pretenses,Representations, or promises. (B) A person that does not comply with the provisions of paragraph (A) is guilty of an offense and, after the conviction must be fined not more than ten thousand dollars or imprisonment for not more than five years, or both.
The criminal law elements of bank fraud in violation of South Carolina Code Section 34-3-110, be contained in an indictment, and must, it will be proved by the government beyond a reasonable doubt, are as follows: The defendant knowingly executes, orAttempt to execute a scheme or artifice to defraud, or by false or fraudulent pretenses or promises, or other assets owned or under the control of the property will receive a state-chartered or insured financial institution.
A white collar criminal defense must be an understanding of the basics of federal and South Carolina bank fraud laws and case law have precedents in order to adequately represent clients charged with bank fraudInjuries.
Friends Link : hdtv ratings carseats Asbestos cancer lawyer consolidation loan refinance student royal carribean
No comments:
Post a Comment