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225 Seven Farms Drive, Suite 109, Charleston, South Carolina 29492
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Bank Fraud Defense

The South Carolina white collar criminal defense attorneys at Lofton & Lofton are trusted leaders in criminal defense. For over 25 years, we have successfully defended all types of charges involving white collar crimes, including bank fraud. Our Charleston office provides the highest quality representation in federal and state prosecutions.

Bank Fraud

The Federal Bank Fraud Statute strictly prohibits the knowing act or attempt to defraud a bank.

The elements of Federal Bank Fraud are:

  • That the Defendant knowingly executed or attempted to execute a scheme to defraud;
  • That the scheme to defraud was material;
  • That the Defendant did so with the intent to defraud; and
  • That the financial institution was insured by the Federal Deposit Insurance Corporation.

Bank Fraud Sentences

Bank fraud violations and other white collar crimes are severely punished in South Carolina. A conviction for bank or mortgage fraud may result in up to $10,000 in fines and 5 years imprisonment. Under the federal statute, however, convictions may carry up to $1 million in penalties and 30 years imprisonment. A conviction for attempt or conspiracy to commit bank fraud carries the same penalties as the actual crime.

Federal Sentencing Guidelines

Sentencing in federal bank fraud cases is generally governed by the Federal Sentencing Guidelines. Although federal courts are not required to follow these guidelines, they must consider these guidelines along with other factors in imposing a sentence, such as:

  • Nature and circumstance of crime
  • Criminal history and character of accused
  • Need to further certain public policies with regard to sentencing, such as:
    • Just punishment without sentence disparities
    • Protecting against defendant’s future crimes
    • Promoting respect for law and deter crime
    • Providing defendant with education, training, medical care, or rehabilitation
  • Other guidelines balancing need to impose fair sentence and provide restitution

In bank fraud cases, sentencing is generally related to the amount of money lost in the alleged conspiracy or scheme. An experienced attorney is critical to defending individuals against the potentially life-altering consequences of a bank fraud conviction.

Bank Fraud Protection and Defense

Individuals facing charges or under investigation for bank fraud should seek legal counsel immediately. The South Carolina white collar criminal defense lawyers at Lofton & Lofton can help. Since 1984, we have successfully defended numerous white collar criminal allegations such as bank fraud, saving clients from large fines and long prison terms. We use our experience to defend your rights and protect your freedom. Call (843) 722-6319 for a consultation or contact us online.