What penalties could I face if charged with alleged bank fraud?

On Behalf of | Aug 30, 2020 | Criminal Defense |

A bank fraud charge could result in harsh penalties. As noted by the Federal Deposit Insurance Corporation, a sentence for obtaining money by false pretenses may include up to 30 years of imprisonment and a one-million-dollar fine.

Before a prosecutor can obtain a conviction, he or she must first convince a jury that you intentionally carried out a felony. Because of the requirement to show you had the intent to deprive a bank of its money, the court needs to see substantial evidence of the alleged actions.

What type of evidence can a prosecutor use?

Bank employees may contact law enforcement officials to report suspicious activity. Based on the information provided, an investigation could begin to gather evidence. An investigator may review your account statements and transaction histories, which could include your trips to an ATM.

Most ATMs have surveillance cameras, which officials can also review. If they suspect fraudulent activity, they can check for videos or images posted on social media that might reveal expensive purchases.

Can a bank fraud defendant obtain a lighter sentence?

Officials charged a 24-year-old Indiana resident with bank fraud and aggravated identity theft. The charges stated he cashed more than 200 fraudulent checks. As reported by The Northwest Indiana Times, he allegedly obtained personal information and details through his social media friends and then used it to open numerous checking accounts.

The Hoosier State resident pleaded guilty to a charge of identity theft and one for bank fraud. The court ordered two years of imprisonment for the bank fraud charge, and the minimum two-year sentence for identity theft. The judge could have ordered imprisonment for up to 30 years, but by pleading guilty, the defendant avoided the harsher sentence.