Bank fraud is the use of illegal means to recover money, and other types of assets or property owned by a financial institution.  Bank fraud is a frightening offense to be charged with, not only because it is prosecuted by the Federal Government, but the stigma that will be associated with your name if you are found guilty.  Bank fraud has been highlighted in the media as one of the primary reasons for the economic downturn and the recession.  Therefore, any association of your name with bank fraud has the potential of leading to negative connotations which can affect your future job status, credit score, and even family situation.  It is therefore important to secure an experienced bank fraud attorney in Phoenix, Arizona who will work hard to ensure your good name is not sullied.

Bank Fraud Prosecutions

Interestingly enough, federal prosecutions for bank fraud have fallen over the last decade despite increased problems in the banking industry.  In 2011, only around 1,400 bank fraud cases were prosecuted by the federal government, which is less than half the number that was prosecuted in 2001. While it seems as though bank fraud cases are on the rise, they have actually fallen in recent years, which is a good statistic if you have been charged with the federal offense.

As an accused defendant in a bank fraud case, these numbers work in your favor and are a great indicator of the steps the federal government will take in handling your case.  Bank fraud cases have been hyped in the news recently, which not only made consumers wary about trusting banks, but additionally makes them more prone to bring lawsuits if they suspect any type of fraud in a transaction.

Why Was I Charged?

Unfortunately, one reason why you may be investigated for bank fraud is due to your bank’s encouragement at filing false paperwork when filling out applications for loans or mortgages.  As the housing market crashed, banks began looking through paperwork and now if they find a misstatement, they will turn these cases over to federal prosecutors, despite the fact that they encouraged you to state falsities.  In a nutshell, banks are now trying to recoup money from their borrowers who took out loans they could not afford based on the advice of bank officials at the time of the loan.

Bank fraud charges typically include the following:

  • Assuming a false identity
  • Passing bad checks
  • Making false statements on a loan or mortgage application

You can be charged with bank fraud even if the bank or mortgage company knew you were making a false statement, the majority of your application was accurate information, and even if your loan was denied.

Defending Bank Fraud Cases

Bank fraud cases are a unique form of white collar crime which require the expertise of an experienced attorney.  The limitations period for bank fraud cases is 10 years, which means that if you allegedly committed bank fraud more than 10 years ago, the federal government cannot bring charges against you.  However, it is important to seek the advice of an experienced Phoenix bank fraud attorney before you go up against a federal prosecutor on your own.

Dwane Cates | Phoenix, Arizona Bank Fraud Attorney

Arizona criminal attorney, Dwane Cates, has 15 years of experience handling complicated federal felonies as well as state-based criminal felonies.  His years of experience and research have been recognized by the news media, as he is frequently called upon to give his opinion on current legal issues and cases.  Dwane Cates understands that bank fraud is a frightening crime to be charged with, and many arrests are the result of the heated environment the media has created for prosecutions.  He will work tirelessly to ensure you receive the most favorable judgment you can receive.

Please call our Phoenix offices today to set up your initial free consultation.


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