NYC Federal Bank Fraud Lawyer

NYC Federal Bank Fraud Attorney

Finding yourself charged with bank fraud crimes in NYC can be a frightening and overwhelming experience. If you suffer these charges, it is vital that you retain the legal services and counsel of a NYC federal bank fraud lawyer as soon as possible. Since 2010, the attorneys at the Law Office of Jonathan Savella have handled these kinds of cases and are ready to put that experience to use, reviewing your case and defending your future and freedoms.

Even if you are simply just under investigation and not yet arrested for these charges, it is time to hire an attorney. Your attorney can ensure you do not make any statements that could be used against you and work to protect all your rights.

Allow us to come alongside you and provide you with a strategic legal defense that can help mitigate any charges or penalties that may be brought against you. Most federal fraud cases will be held at either the Southern District of New York on Pearl Street or the Eastern District of New York, at Cadman Plaza East in Brooklyn. Our attorneys have experience handling cases in both of these federal courts.

Defining Bank Fraud in NYC

In the United States, fraud is generally defined as using a fraudulent scheme to obtain money or other items of value from another individual, business, or institution. Federally, there are certain elements of fraud that must be proven to be convicted, including the following:

• Misrepresentation of facts or material
• The misrepresentation is made with the full knowledge that it is false
• The defendant had the intent to deceive another party
• Certain actions are taken due to the misrepresentation of material or facts

In the United States, bank fraud is defined as an individual attempting to execute or successfully execute a scheme to defraud a financial institution. This action is taken to obtain credit, assets, money, loans, securities, or other property that is either owned or under the financial control of the institution. These actions are taken through the use of false pretenses, fraudulent promises, or representations.

There are several kinds of bank fraud that can take place in New York, including:

• Check fraud. This kind of fraud can include stealing checks, signing or endorsing a check that is not actually payable, removing information written on a check, such as the amount or date, using special chemicals, or knowingly writing a check that will overdraft an account.
• Mortgage fraud. This kind of bank fraud can occur when an individual provides a bank or other financial institution with false information regarding their assets or income to acquire a mortgage.
• Credit and debit card fraud. This kind of bank fraud happens when an individual allegedly accesses or steals information regarding a debit or credit card to make purchases they are not authorized to make.
• Skimming. This can include the duplication of information on the magnetic strip of a debit or credit card to make online purchases. This often occurs at ATMs, gas pumps, or other similar machines.
• Counterfeiting. This occurs when an individual takes actions to alter United States currency or creates their own fake currency. In 2023 alone, over 67 cases of counterfeiting were reported to the United States Sentencing Commission.

Penalties for NYC Bank Fraud Convictions

For individuals who are convicted of federal bank fraud in NYC, there are two main penalties that can occur. For most individuals, sentencing can include no more than $1,000,000 in fines and no more than 30 years in prison or a combination of both. The penalties you could potentially face will ultimately depend on the severity of the crime and the amount of money involved. The higher the amount of money involved in the crime, the higher the penalties.

Thankfully, there are several defenses that can be available in a federal bank fraud case, including challenging the validity of any evidence used against you, proving that you had a lack of intent to commit the fraud, or demonstrating that you were not actually aware that your actions could be considered fraudulent.

At the Law Office of Jonathan Savella, we can review the details of your case and determine which defense is the right course of action to take to protect your rights.

FAQs

Q: Can You Reduce a Federal Bank Fraud Charge Through a Plea Bargain?

A: Yes, depending on the nature of your case, you may be able to reduce the charges you are facing through plea bargaining. This is where an experienced attorney will become extremely beneficial. They can enter negotiations with the prosecution to seek a lesser charge or reduced sentence in exchange for the defendant pleading guilty to the crime.

Q: What Is Intent in a Federal Bank Fraud Case in New York?

A: One of the most crucial aspects of a federal bank fraud case is intent. The prosecution in your case must be able to prove that you had the intent to defraud the bank or other financial institution. If your attorney can prove a lack of intent, it can be a strong defense that may lead to a potential acquittal or a reduction in charges.

Q: What Is a Constitutional Defense for Bank Fraud?

A: There are several defenses that may be used in cases of federal bank fraud. One of those defenses involves your constitutional rights. If law enforcement violated any of your rights during your arrest or their investigation, your attorney may be able to use these violations in your defense. These violations can include unlawful search and seizure or a failure to provide you with your Miranda warnings.

Q: Is Bank Fraud Increasing?

A: Yes, across the United States, financial fraud cases are increasing for all credit unions, banks, and fintechs. In the last year alone, 35% of all banks and fintechs experienced over 1,000 attempts at fraud. More than 50% of all banks, credit unions, and fintechs have reported an increase in fraud.

Speak With a Federal Criminal Defense Attorney Today

If you find yourself under investigation or arrest for a federal fraud crime, the attorneys at the Law Office of Jonathan Savella are here to help. Whether your case is being heard on Pearl Street in the Southern District of New York or in Brooklyn at Cadman Plaza East in the Eastern District of New York, allow us to advise you on how to protect your freedom and future and seek the most favorable outcome in your case. Contact us today to schedule an initial consultation.