A Boston police officer in was recently indicted by a federal grand jury on bank fraud charges, one count of possession of an unregistered firearm, one count of making a firearm in violation of the National Firearms Act, one count of transferring a firearm in violation of the NFA, two counts of bank fraud, and two counts of making false statements to a bank. The charges are related to the officer’s role as owner of a retail gun shop in Tyngsborough. Bank fraud charges as well as violations of the National Firearms Act can lead to lengthy imprisonment, years of supervised release, and substantial fines.
Common Types of Bank Fraud
Many types of bank fraud are charged as federal crimes because they occur within interstate commerce. The resulting penalties for a federal crime are often significant and can create obstacles that last the rest of a person’s life. Some of the most common types of criminal offenses that lead people to end up facing bank fraud charges include:
Pretending to be a financial institute to fraudulently convince others to transfer assets to your ownership.
Changing the names of checks or other financial documentation that has been provided to you. Other times, people attempt to change the amount of money that is involved in a transaction.
People who rely on fraud as well as other methods to obtain jobs at financial institutes. These individuals then perform fraudulent activity in this position that involves the finances of others at the institute.
Sometimes, people commit fraud by taking out loans knowing that they will not be able to pay them because they have recently filed for bankruptcy.
Remember Bank Fraud Takes Many Forms
The federal law addressing bank fraud is broad and allows prosecutors to pursue charges in many different ways. To obtain a conviction, the prosecution must only establish that you are engaged in a scheme to artifice or defraud a financial institute. Bank fraud can include faked documents, forged checks, mail fraud, and mortgage fraud.
Do Not Speak to Law Enforcement
When law enforcement performs any type of arrest, they will often try to get the person who is arrested to make incriminating statements that can be later used against the individual. Law enforcement is also permitted to try to trick you into either lying about evidence or confusing you.
Hold Onto Your Records
Prosecution for bank fraud charges relies heavily on financial records. To give your lawyer a better understanding of how strong the evidence against you is, you should make sure to retain copies of all your financial records.
Contact a Fraud Defense Attorney
If you or a loved one has been charged with fraud in Massachusetts, it is easy to feel overwhelmed. One of the best steps that you can take in such a situation is to obtain the assistance of an experienced criminal defense lawyer. Contact attorney Edward R Molari today to schedule a free case evaluation.