Bank and Check Fraud

Bank fraud is the most common and costly type of deception in the United States. If you are charged with this case, you’ll need the help of a highly specialized bank fraud attorney in Los Angeles.

According to Statista, the value of bank fraud in the United States in 2021 was $756 million. Check fraud, on the other hand, is seventh on their list, with the total value in 2021 coming in at $153 million.

What is Bank and Check Fraud?

Bank fraud encompasses a wide range of illegal behavior. This favors prosecutors who can lay several criminal charges against you. According to federal law, bank fraud is an attempt to defraud a financial institution or obtain money or assets owned by the bank under false pretenses.

Note that there need only be an attempt to commit the crime, and it would make no difference if you were successful or not.

Check fraud is defined as intentionally using a bad check, considered a worthless negotiable instrument, to obtain something with actual value. In check fraud cases, prosecutors must prove that you had knowledge or could reasonably be expected to have knowledge that it was a bad check and would be returned.

A California check fraud lawyer in Los Angeles from LibertyBell Law Group has the experience and know-how to make the letter of the law work for you, not against you.

It’s important to know that bank fraud is not only a federal crime but also a state crime, so you could be charged twice. Considering that you could get a 30-year prison sentence if you’re found guilty, you definitely want a bank fraud defense attorney in Los Angeles, like LibertyBell Law Group, on your side.

Types Of Bank Fraud Schemes

It’s been established that bank fraud is an umbrella term for many other criminal offenses. Examples of bank fraud include the following:

• Mail fraud – When someone tries to access funds through fraudulent representation via mail.
• Wire fraud or wire transfer fraud – When someone captures the details of a banking customer and transfers money to their account. Another method is to get the victim to trust the fraudster, through a guise of some kind, sufficiently to wire them money directly. 
• Application fraud – When someone uses fake details, or the details from a stolen identity, on loan applications or other documents that enable them to obtain funds illegally. Synthetic IDs are also used.
• Falsifying documents – When someone misrepresents information on documents to access funds.
• Check fraud – When someone uses fake checks or forged checks to access funds.
• Loan fraud – When someone misrepresents information or uses other illegal means to access funds through a loan.
• Counterfeit bank documents – When someone uses false bank documents that are identical to genuine bank documents to gain access to funds.
• Tax fraud – When someone or some company/organization/business purposely fails to meet their tax obligations.

Rather than be railroaded onto fraud charges and then into prison, use Google’s valuable tool to help you find a bank fraud attorney near me. LibertyBell Law Group will be there to ensure you are defended by the best in the business.

Understanding Bank Fraud and its Penalties

It’s a grave mistake to think of your bank fraud charge as a misdemeanor that will result in a slap on the wrist. Bank fraud is a serious federal crime. In California, there are three serious penalties. 

1. A fine of up to $100,000.
2. A prison sentence of up to 30 years.
3. A fine of $100,000 and a prison sentence of up to 30 years.

If you’re in a bind, contact LibertyBell Law Group, a top bank fraud investigator and attorney in Los Angeles.

8 Types of Check Fraud Schemes

There are at least eight types of check fraud schemes, including the following:

1. Bank check fraud or paperhanging – When someone orders a check for a closed account or writes checks on a closed account.
2. Fake check fraud – When someone forges or duplicates checks using advanced technology. 
3. Check washing – When someone uses solvents and chemicals to alter details on the check.
4. Cashier’s check fraud – When someone (the fraudster) gives a seller a cashier’s check that is for more than the purchase price. The buyer or fraudster asks for a cash refund for the extra amount. The fraudster walks away with money in their pocket, while the seller discovers that the check isn’t valid.
5. Payroll check scam – When someone creates fake payroll checks or alters genuine checks using chemicals or other advanced techniques.
6. Check cashing fraud – When check-cashing stores cash checks they know are invalid, or if they purposely cash tax refund checks for identity thieves.
7. Check deposit scams – When someone asks a victim to deposit a check into an account in exchange for cash, minus a small commission. The check is then found to be invalid.
8. Check kiting fraud – When someone opens accounts at several banks or other financial institutions and creates fraudulent balances by writing checks from one account to another. They use the float time after the check is cashed and before the money is deducted to give the impression that the account contains money.

Check fraud is investigated by state or federal authorities, which is why you need a check fraud lawyer in Los Angeles in your corner.

Understanding Check Fraud and its Penalties

Check fraud is a wobbler offense. The prosecution can use its judgment to decide if they’re going to charge you with felony check fraud or a misdemeanor. Prosecutors weigh their decision against the nature or severity of your crime and criminal history. 

In California, if you’re found guilty of a misdemeanor, you can be sentenced to up to one year in a county jail and have to pay a $1,000 fine. There are four possible outcomes if you’re charged with a felony, these are:

1. Possible probation for up to three years and up to one year in county jail.
2. A fine of up to $10,000.
3. A16 months, two years, or three years in county jail.
4. A fine of up to $10,000 and a prison sentence of 16 months, two years, or three years in county jail.

If you’re stuck in a jam, connect with a leading check fraud attorney in Los Angeles, and contact LibertyBell Law Group.

Do You Need a Bank and Check Fraud Attorney in Los Angeles?

You must realize that prosecutors only pursue cases they feel they can win. You need an experienced bank fraud attorney in Los Angeles to investigate the case further and find evidence that will provide reasonable doubt as to your guilt.

Our Los Angeles lawyer for a fraud check case has one goal, and that is to get the case dismissed or get the charges reduced to the absolute minimum with minimum penalties.

For a free consultation with a bank fraud defense attorney in Los Angeles, contact us at 877-545-3559 at LibertyBell Law Group today!