Bank Fraud

Bank fraud is considered among the most serious white collar crimes and is typically prosecuted in federal court. The federal bank fraud statute, 18 U.S.C. § 1344, carries a sentence of up to 30 years in prison and/or up to a million dollar fine. Outside the courtroom, a charge of bank fraud can have very harmful consequences on your personal and professional life. If you are charged with bank fraud, or under investigation for a fraud offense, you need an experienced criminal defense attorney capable of defending your liberty and restoring your standing in the community.

Boston bank fraud attorney David J. Grimaldi provides outstanding representation to clients accused of bank fraud and other white collar offenses. He has represented numerous professionals accused of bank fraud offenses, including career bankers accused of fraud in the course of their work, as well as bank customers accused of fraud while conducting financial transactions. Attorney Grimaldi has extensive experience reviewing FBI reports, bank records, surveillance videos, electronic data, witness interviews, and the vast array of other documentation that typically make up bank fraud cases. He knows how to prepare and execute the strongest defenses to bank fraud charges.

The best defenses to bank fraud charges typically reveal the weakness of the government’s evidence concerning a required element of the offense. To prove the charge of federal bank fraud, the government must prove beyond a reasonable doubt that the client knowingly and willfully participated in a scheme to defraud a financial institution (or to obtain money by means of false or fraudulent pretenses) with the intent to defraud, and that the financial institution was federally insured, a federal reserve bank, or a member of the federal reserve system.

In light of these requirements, a strong defense to the charge of bank fraud is a direct challenge to the government’s claim that a fraud occurred at all. According to the First Circuit, the term “to defraud” means to deceive the bank in order to obtain money or other property by misrepresenting or concealing a material fact. Therefore, persuasive evidence that the client provided truthful and complete information to the bank, despite the government’s claim to the contrary, is a winning defense to bank fraud charges.

Another defense to bank fraud is that the alleged misrepresentation or concealment did not concern a “material fact.” A fact is “material” only if it has a natural tendency to influence or be capable of influencing the decision of the person to whom it was addressed. In other words, an insignificant misstatement or omission during a bank transaction does not ordinarily constitute bank fraud. To prevail on a “materiality” defense, the client’s defense attorney must demonstrate the incidental nature of the alleged misstatement or concealment to the bank transaction.

A client who did not “knowingly” or “willfully” participate in the bank fraud is likewise not guilty of the charge. A person acted “knowingly” only if he or she was conscious and aware of his or her actions, realized what he or she was doing or what was happening around him or her, and did not act because of ignorance, mistake or accident. Moreover, an act or failure to act is “willful” only if done voluntarily and intentionally, and with the specific intent to do something the law forbids, or with specific intent to fail to do something the law requires to be done. These requirements focus on the client’s state of mind at the time of the relevant bank transactions. A successful defense to bank fraud charges, therefore, is to demonstrate convincingly the client’s innocent intentions when conducting the financial transaction.

Boston bank fraud attorney David J. Grimaldi has the legal knowledge and professional experience you need to defend against bank fraud and related white collar offenses. He understands how significant your case is to you and the people you care about, and he knows the importance of a successful outcome to your future. Attorney Grimaldi is ready to defend you against bank fraud allegations. If you are charged with bank fraud, contact Attorney Grimaldi at 617-661-1529 or online today.