Written and edited by our team of expert legal content writers and reviewed and approved by Attorney Mark O’Mara
Content last updated on: February 10, 2023
Financial institution fraud is an umbrella term for a variety of activities which seem to be very different. But they all have some essential elements in common. For example, all types of bank fraud involve an intentional deception that’s designed to produce individual financial gain at the expense of another person. Banks will do almost anything to protect their considerable assets. They often use the assets to pressure officials into aggressively pursuing fraud charges.
At the O’Mara Law Group, our Orlando bank fraud lawyers cannot possibly match the state’s unlimited resources in these cases. But our passion for your defense fills in the gap. His belief helped David beat Goliath, and our belief in your rights helps us slay giants as well. After we have a long conversation with you to determine your needs and goals, we work hard to prepare a strong defense. Then, we do not relent until we obtain the best possible result under the circumstances. We never settle for good enough.
Largely depending on the amount in controversy, the penalties for bank fraud could be as high as thirty years in prison and a staggering $1 million fine. The high-end penalties are usually reserved for the most egregious types of bank fraud, such as loan fraud and conspiracy.
However, the amount in controversy is only one consideration. Others include the alleged level of the defendant’s deception and the bank’s actual financial losses, if any.
Other forms of bank fraud, which could trigger separate charges, include check fraud and wire fraud. Check fraud is writing a check or trying to withdraw money while knowing the account has insufficient funds. Constructive knowledge (should have known) could be sufficient in these cases. Wire fraud is sending false documents through the mail or via an electronic exchange. Every time you lick a stamp or hit “send,” prosecutors could add another wire fraud charge.
Since bank fraud is a nonviolent crime, several favorable disposition options are normally available. Although our Orlando bank fraud lawyers are more than willing to fight until the end, if we can resolve these charges quickly and favorably, that outcome is often better than a risky and protracted trial.
Even in major felony cases, prosecutors often offer pretrial diversion. Program requirements vary significantly, but generally, if the defendant jumps through a few hoops for a few months, prosecutors unilaterally dismiss the case. So, the defendant has no conviction record.
Deferred disposition offers a similar outcome. Although the defendant pleads guilty or no contest, the judge does not find the defendant guilty. Instead, the judge defers this determination until the end of a probationary period. If the defendant successfully completes probation, which is different from perfectly completing probation, the judge dismisses the case.
In these situations, the arrest record remains. However, most employers only ask about convictions. If anyone inquires about the arrest record, a simple answer like “I hired a lawyer and the lawyer took care of it” usually ends these questions.
Reach Out to a Hard-Working Orange County Lawyer
Fraud accusations do not necessarily lead to fraud convictions. For a confidential consultation with an experienced bank fraud attorney in Orlando, contact the O’Mara Law Group, Attorneys at Law. Convenient payment plans are available.
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