Amar's Beautiful Blogs: Nov 12, 2011

White collar crimes in South Carolina (SC) and the United States (US) is all the more serious crimes. A white-collar bank fraud or mortgage fraud Defendants convicted of a criminal conviction for the same result can be life changing. If the client is under investigation, or has been indicted or otherwise charged with bank fraud or mortgage fraud, white collar crime, bank fraud, mortgage fraud, a practitioner must be familiar with the jurisprudence of the basics.

Federal Bank Fraud Act, 18 USC 1344, generally provides that a person knowingly executes, or execute, a scheme or artifice to defraud a financial institution or moneys, funds, credits, assets, securities, or any other property to ownership or possession of, or attempt that of the control of a financial institution, false or fraudulent pretenses, representations, or promises mean, not more than 1,000,000 dollars or imprisoned not more than 30 years, or both will be fine.

When 18 U.S.C. There are two slightly different subsections to 1344, where a person violates subsection may restrict commit fraud by the bank. The court ruled that 18 USC 1344 is to isolate the two subsections, so that the first provision of the individual under false or fraudulent representations required by another provision of financial institution fraud by the bank without having to commit fraud.

The federal bank fraud charges contained in the law and the government must prove beyond a reasonable doubt a violation of this section must be one of the elements of criminal law are as follows:

(1) the defendant knowingly executed or attempted to execute the scheme or artifice to defraud;
(2) the defendant attempted to deceive or defraud the financial institution;
(3) the defendant attempted to project as part of the plan or material misrepresentation or concealment of material facts;
(4) The insurance or financial institution chartered by the federal government.

The failure of the Federal Court alleging misrepresentation of material fact to argue for an element of bank fraud conviction reversed.

The federal bank fraud charges contained in the law and the government must prove beyond a reasonable doubt of bank fraud in violation of this section must be two elements of criminal law are as follows:

(1) the defendant knowingly executed or to execute the scheme or artifice (or other property) attempted to obtain money owned by, or possession or under the control of the financial institution;
(2) the defendant materially false or fraudulent pretenses, representations, or promises of execution or attempted to use the scheme;
(3) the insurance or financial institution chartered by the federal government.

The Supreme Court is “material” is defined as a reasonable man of importance to its existence or nonexistence in determining his action in question with the transaction. Second Circuit Court of Appeals as to be able to effect a material misrepresentation to define the actions of a bank. The materiality of the issue to be considered legal question is used, the Federal Court has now ruled that materiality is a question that must be presented to the jury and the judge determined.

With regard to federal bank fraud law, “financial institution” is an FDIC insured depository institution a bank, a federally insured credit union, a Federal Home Loan Bank or member of a Farm Credit Bank, a small business investment company, and includes the Federal Reserve Bank.

Indeed, loss of financial institutions so that the respondent was no longer evidence of harm is intended to prove the organization is not required.

The term “scheme or artifice to defraud” a scheme or artifice to deprive another of honest services of intangible rights, and the phrase was widely interpreted by the Court. It usually requires that certain financial benefits to or impose a self-bank finance for causing the loss defendant intended for the purpose of deceiving the bank. The term ‘scheme to defraud,’ however, is not capable of precise definition. Fraud scheme, rather than the particular case to determine the basic honesty, moral uprightness, or fair play and candid dealings normal life of a community is measured by starting demonstration. “.) In charge of how, depending on bank fraud charges, one checks that can not be formed involving bank fraud scheme, United States v. Brandon, 298 307 F.3d (4 Cir 2002.) (Stolen and forged checks constituted bank fraud ). United States v. Celesia, 945 F .2 756 D (4 Cir 1991.) (check kiting scheme constituted bank fraud); United States v. Orr, 932 330 F.2d (4th. Cir 1991.) (insufficient funds check not constitute fraud on the bank account, not cashed).

An attempt or conspiracy to commit bank fraud bank fraud in the original subject to criminal penalties. 18 U.S.C. 1349 provides as follows: Any person who attempts or conspiracy offense is an offense under this chapter, the Commission had stipulated that the object of the attempt or conspiracy shall be subject to the same penalties.

The statute of limitations for federal bank fraud case 10 years.

There are other federal banks or other financial institutions, including the prohibition against circumvention of the law, but not necessarily limited to, the following: 18 USC 1004 Certification checks; 18 USC 1005 entries in bank statements, and practices; 18 USC 1006 reports Federal credit institution entries, 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, renewal discounts and crop insurance; 18 USC 1029 fraud and related activity in connection with access devices and 18 USC conservator, receiver, or liquidating agent of financial institution to hide assets from 1032.

Sentenced to federal bank fraud in violation of the relevant factors are usually set by the law 18 USC 3553 as described in (A), and the United States Sentencing Guidelines, which are now considered advisory and not mandatory section 2B1.1. Sentenced in federal court applied the statutory factors must take into account the nature and circumstances of the offense and the history of the defendant, the sentence imposed to reflect the seriousness of the offense for the necessary features to promote respect for the law, and crime, the criminal in order to provide adequate deterrence to requires the defendant to protect the public from further crimes, to provide the defendant with needed educational or vocational training needs, medical care, or other punishment is provided only for the most effective treatment available in the correctional sentences, the Sentencing Guidelines and any applicable guidelines or policy statements by the need to avoid disparities in punishment, and punishment of the type recommended by the need for rehabilitation. In general, section 2B1.1 of the Sentencing Guidelines, the amount of bank fraud, money lines lost, damaged or tied to the purpose, according to bank fraud scheme. In general, the more money that the bank fraud scheme, a long imprisonment sentence is missing.

A South Carolina bank fraud statute that parallels the federal statute. South Carolina bank fraud, which is ten years imprisonment and / or a $ 10,000 penalty to a Class E felony with a penalty prohibits. SC Code Section 34-3-110 provides as follows: (a) the person knowingly execute, or attempts to execute, a scheme or artifice can: (1) impose federally chartered or insured financial institution, or ( 2) to obtain monies, funds, credits, assets, securities, or by false or fraudulent or other pretenses, representations, or promises by a federally chartered or insured financial institution under the control means ownership of property in custody. (B) the person in subsection (a) violation of the provisions of guilty to a felony, and upon conviction, more than ten thousand dollars, must be fined not more than five years, not imprisonment, or both.

South Carolina Code Section 34-3-110 must be contained in the indictment and the government to prove beyond a reasonable doubt must be in a bank fraud in violation of the criminal law, the elements are as follows: The defendant knowingly executes, or attempts to execute a scheme or artifice to defraud, or false or fraudulent pretenses or promises or by assets or other federally chartered or insured financial institution under the control of property owned by the gain.

A white collar criminal defense attorney and federal bank fraud statutes and case law precedents in South Carolina is an understanding of the basics is enough to charge the clients that represent violations of bank fraud.

Article Source :- http://nancybrak3.edublogs.org/2011/11/12/lawyers-guide-to-bank-mortgage-fraud/

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