Strom Law Firm Columbia SC
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Bank and Loan Fraud Lawyer

Strom Law’s team of highly experienced South Carolina fraud lawyers can provide a professional, capable, and robust defense for clients facing accusations related to bank or loan fraud.

As a federal wire fraud defense attorney, we recognize how distressing a fraud allegation can be and how important it is to seek skilled legal representation swiftly to create a strategy, defined plan, and response.

Bank and fraud charges can carry serious penalties, extending to heavy fines and prison terms, so we strongly advise you to get in touch at your earliest opportunity if you have been accused or charged with bank or loan fraud or believe you may be subject to an allegation against you.

What Constitutes Bank or Loan Fraud?

The first step to defending any case is to establish the cause of the charge and define the reasons you have been accused of bank or loan fraud or other white-collar crimes.

Bank fraud is based on wire transactions or banking information used to deceive an individual or organization. Bank fraud that is proven and found to have affected a financial institution can result in fines capped at $1 million and prison terms of up to thirty years.

Loan fraud means an individual is accused of taking out a loan under a false identity or pretenses, utilizing credit from a lender that the person would not otherwise have been able to access. These types of fraud cover a broad range of potential scenarios, including:

  • Defrauded or falsified checks
  • Misleading a bank or financial institution
  • Providing false information to an official
  • Forging signatures or identity documents

Our financial fraud attorneys can provide further details if you are unsure of the exact nature of the fraud charges brought against you or why fraud is suspected.

When Should I Call a Bank and Loan Fraud Lawyer?

We advise you to contact Strom Law straight away if you are concerned about an investigation into alleged fraud, have been charged with fraud, or have been arrested. Taking action in the early stages is crucial to ensure you understand the facts of the case, have the opportunity to mount a defense, and have ample time to gather evidence and documentation to support your interests.

Fraud cases can be complex and technical, depending on the accusations or allegations made, so understanding the specific legislation under which you have been charged or investigated is key. Delaying legal advice can be a serious error since ongoing investigations can result in your assets being frozen or seized. We do not recommend speaking with a fraud investigator without a specialist attorney present.

Even an inadvertent mistake, or honest error, can be perceived as a deliberate attempt to deceive or defraud. An accomplished lawyer will ensure you have the right advice and support to achieve a favorable outcome.

Federal Sentencing for Bank or Loan Fraud Convictions

Bank fraud crimes attract serious punishments. While convictions linked to mortgage fraud can carry fines of up to $10,000, the federal statute sets a maximum penalty of $1 million following a conviction. Convictions related to attempted bank fraud or a conspiracy to defraud carry the same penalties as a conviction against an individual proven to have committed a crime.

Federal courts have discretion over whether they follow the advisory guidelines and may rely on context, such as the nature and intent of the fraud, the character of the accused, and the severity of the crime or attempted crime.

Fraud cases can be treated as a felony but may also be categorized as a misdemeanor. Allegations such as forgery that do not involve credit cards, mortgages, stocks, currencies, or bonds, among other financial assets, can sometimes be downgraded to a misdemeanor with lighter penalties.

What to Do if You Have Been Accused of Bank Fraud

If you are facing charges or are worried about the potential to be charged for any loan or bank fraud, please seek legal counsel immediately by contacting Strom Law, ensuring you have the best chance of defending your case. Prosecutors need to meet certain burdens of proof to evidence their case, including producing evidence that proves beyond reasonable doubt that the individual committed fraud, has intended to do so, and that the charge is legally categorized as fraud under federal or South Carolina Law.

Our attorneys can advise on the right steps to disprove or refute the allegations and protect your rights to defend yourself against fraud allegations.



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