5 Legal Points Concerning Bank Fraud Crime

M.S — Fri, 23 Feb 2007 09:52:08 +0000

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Violations of law at a bank or by using accounts of a financial institution are commonly prosecuted in federal court as “bank fraud.”

The United States Attorney Office will seek an Indictment (a charging document formally charging the person with a crime) for bank fraud based upon a relatively non-complex theft or embezzlement of monies by a bank employee, or a more complex scheme to defraud based upon false statements, such as an overvaluation of property or securities. Also, the federal prosecutor office will seek an Indictment for bank fraud based upon a complex scheme to defraud, such as a scheme based upon a series of false loan applications and misuses of loaned monies or non-existent collateral.

The United States Code contains federal crimes that are prosecuted by the Department of Justice or its field offices, the United States Attorney Offices, in respective districts in the different states. Title 18, United States Code, Section 1344, titled Bank Fraud, makes it a crime to defraud a bank or commit a scheme to defraud regarding the accounts of a financial institution. Title 18, U.S. Code, Section 1344 reads as follows:

BANK FRAUD Whoever knowingly executes, or attempts to execute, a scheme or artifice 1) to defraud a financial institution; or 2) to obtain any of the moneys, funds, credits, assets, securities, or other property owned by, or under the custody of or control of, a financial institution, by means of false or fraudulent pretenses, representations, or promises; shall be fined not more than $1,000,000 or imprisoned for more than 30 years, or both.

FALSE STATEMENTS The violation of making a false statement to a financial institution is also a commonly used criminal law used to prosecute people for making misrepresentations to fact to a bank. The crime of making a false statement is often utilized when federal prosecutors are investigating a person for bank fraud or violations concerning a financial institution. Under Title 18, United States Code, Section 1014, it is a federal crime to make a false statement to a financial institution. 18 U.S. C. 1014 reads as follows (in summary):

False Statements to a Financial Institution Whoever knowingly 1) Makes a false statement, or overvalues any property 2) For the purpose of influencing an anyway 3) The action of a financial institution shall be fined not more than $1,000,000 or imprisoned for more than 30 years, or both.

Neil Lemons represents Dallas-based criminal attorney John Teakell, who offers defense for Bank fraud” as well as other white collar offenses. For more information, visit http://www.teakelllaw.com.

Tags: bank, bank+fraud, collar+crime, crime, lawyer, legal+point, lawyer+tip, fraud, financial

Information on Defective Productsâ€™ Cases

M.S — Fri, 14 Jul 2006 16:49:34 +0000

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by: Mart Gil Abareta

Every year, millions of people are being injured or harmed by defective products. A product can be considered to be defective for various reasons such as design defect, failure to warn, failure to guard, unfit for intended use, defect in construction, or a defect in materials. With this, defective product claims can be based on negligence, strict liability, or breach of warranty of fitness depending on the jurisdiction within which the claim is based.

No matter how big or small, you must file your defective products claim and see what your legal rights are. Basically, liability and damages are two important elements in every defective products law case. A liability involves demonstrating that the person being charged did bear responsibility for the injury. The damages, however, refer to the extent or amount of injury or loss that was suffered on account of the defendant’s actions or negligence.

Know what, defective product cases require extensive resources and experience. Expert witnesses can cost tens of thousands of dollars just for an initial evaluation. Not every lawyer has the resources or connections to utilize the top experts. In addition, product liability cases require originality, creativeness, fortitude and the resources to cover the high expenses involved. Representing injured parties is often expensive for attorneys because they put up large sums of money on these complex cases in order to hire experts, take depositions, gather evidence, and oppose the lawyers of large companies and insurance firms.

Upon winning the case, you are entitled to compensatory damages such as your medical bills incurred as a result of the product defect, reimbursement for any time lost from work, and property damaged as a result of the defective product. You are also entitled to damages for pain and suffering you experienced as a result of your injury. If you are married and the injury has affected the relationship with your spouse, you may be entitled to loss of consortium damages. Your spouse may also be able to recover these damages, even if he or she was not directly injured by the product.

Indeed, to avail the service of a competent counsel is the best way to protect your interests if you have been injured by a defective product. So, if you or your loved ones have been injured because of what you believe is a product defect, you should consult a defective product lawyer at the earliest opportunity to protect you right of recovery. Through an attorney, youâ€™re assured that a thorough search will be performed to locate and then sue all the proper parties if a lawsuit seems justified.

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Tags: consumer, consumer+product, defective+product

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5 Legal Points Concerning Bank Fraud Crime

Information on Defective Productsâ€™ Cases