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Light collar crimes are serious offenses in Louisiana (SC) and through the entire USA (US). A white training collar bank fraud or home loan fraud criminal conviction can have life altering consequences for all those defendants convicted of the same. If a customer is usually under investigation for, or offers been indicted or otherwise billed with, the white training collar crime of lender fraud or mortgage fraud, a practitioner should be familiar with the fundamentals of bank fraud and mortgage fraud jurisprudence.

The Federal Lender Fraud Statute, 18 U.S.C. 1344, generally provides that whoever knowingly executes, or tries to execute, a scheme or artifice to defraud a lender or to obtain any of the moneys, money, credits, possessions, securities, or other real estate owned by, or beneath the custody or control of, a financial institution, by means http://query.nytimes.com/search/sitesearch/?action=click&conten... of false or fraudulent pretenses, representations, or promises, will be fined only $1,000,000 or imprisoned only 30 years, or both.

As the two subsections of 18 U.S.C. 1344 proscribe slightly different conduct, a person may commit bank fraud by violating either subsection. Courts have ruled that the two subsections of 18 U.S.C. 1344 are in the disjunctive, so that a person may commit lender fraud under the 1st provision by defrauding a lender without making the fake or fraudulent representations needed by the next provision.

The criminal law elements of a violation of Section One of the Federal Bank Fraud Statute which must be within an indictment and must be proved by the government beyond a reasonable doubt are the following:

(1) The defendant knowingly executed or attempted to execute a scheme or artifice to defraud;

(2) The defendant did defraud or attempt to defraud the lending company;

(3) The defendant used a materials misrepresentation or concealment of a material fact as part of the scheme or attempted scheme;

(4) The financial institution was covered or chartered by the federal government.

Federal government courts have reversed bank fraud convictions for failure of the indictment to allege the component of a materials misrepresentation of fact.

The criminal law elements of a bank fraud violation of Section Two of Federal Bank Fraud Statute which http://www.thefreedictionary.com/criminal law firm should be contained in an indictment and must be proved by the federal government beyond an acceptable doubt are as follows:

(1) The defendant knowingly executed or attempted to michaeljeure37.tumblr.com/ execute a scheme or artifice to get the money (or other real estate) owned by, or beneath the custody or control of, a lender;

(2) The defendant utilized materially false or fraudulent pretenses, representations, or promises in the execution or attempted execution of the scheme;

(3) The criminal law firm Barkemeyer Law Firm financial institution was covered or chartered by the federal government.

The Supreme Court has defined a matter as "material" if a reasonable man would attach importance to its existence or nonexistence in determining his choice of action in the transaction involved. The Second Circuit Court of Appeals has described a material misrepresentation as one capable of influencing a bank's actions. While the problem of materiality used to be considered a legal question, federal https://michaeljeure37.wordpress.com courts have now ruled that materiality can be a question which should be submitted to the jury and not determined by the judge.

With regard to the Federal Bank Fraud Statute, a "lender" includes an FDIC insured depository bank institution, https://en.wikipedia.org/wiki/?search=criminal law firm a federally insured credit union, a federal mortgage loan bank or a member, a Farm Credit Bank, a small business investment company, and a Federal Reserve bank.

The government is not needed to prove an actual loss to the financial institution as long as there is evidence that the defendant intended to expose the institution to such a reduction.

The term "scheme or artifice to defraud" includes a scheme or artifice to deprive another of the intangible right of honest services, and the phrase has been broadly construed by the courts. It generally requires that the defendant action with the specific intent to deceive or cheat a bank for the purpose of getting financial gain for one's self or causing financial reduction to the bank. The term 'scheme to defraud,' nevertheless, is not capable of precise definition. Fraud rather is measured in a specific case by determining whether the scheme demonstrated a departure from fundamental honesty, moral uprightness, or fair play and candid dealings in the overall life of the community."). Depending about how a lender fraud is charged within an indictment, a scheme including checks may or might not constitute a lender fraud. USA v. Brandon, 298 F.3d 307 (4th Cir. 2002) (stolen and forged checks constituted lender fraud); USA v. Celesia, 945 F.2d 756 (4th Cir. 1991) (check kiting scheme constituted bank fraud); USA v. Orr, 932 F.2d 330 (4th. Cir. 1991) (check cashed on insufficient funds accounts did not constitute bank fraud).

An attempt or conspiracy to commit lender fraud is subject to the same criminal penalties as the substantive bank fraud. 18 U.S.C. 1349 provides as follows: Anybody who tries or conspires to commit any offense under Additional info this chapter will be at the mercy of the same penalties as those prescribed for the criminal offense, the commission which was the object of the attempt or conspiracy.

The statute of limitations for a federal bank fraud case is a decade.

There are many of other federal statutes prohibiting fraud against banks or other similar financial institutions, including, but not always limited to, the following: 18 U.S.C. 1004 Certification of checks; 18 U.S.C. 1005 Bank reports, entries and transactions; 18 U.S.C. 1006 Federal credit organization reports, entries and transactions; 18 U.S.C. 1007 Federal government Deposit Insurance Company transactions; 18 U.S.C. 1013 Farm mortgage bonds and credit lender debentures; 18 U.S.C. 1014 Mortgage and credit crop insurance, renewals, applications and special discounts; 18 U.S.C. 1029 Fraud and related activity in connection with access devices; and, 18 U.S.C. 1032 Concealment of property from conservator, receiver, or liquidating agent of lender.