Conspiracy to commit bank fraud is a serious federal offense, particularly in the wake of recent economic disruptions like the COVID-19 pandemic. Such schemes often involve elaborate plans to deceive financial institutions and illegally acquire funds. Understanding the nature of these crimes and how to defend against such charges is crucial for anyone facing these allegations.
Recently, a Queens, New York man was arrested by Federal Authorities for allegedly orchestrating a scheme to steal over $3 million in COVID relief tax credits using a stolen corporate identity. Linval Jackson, 32, along with his co-conspirator, Isaiah Aaron Tenryk, purportedly used a fraudulent driver’s license and the identity of a corporate executive in New Jersey to open a bank account in Boston. The fraudulent account was then used to deposit an Employee Retention Tax Credit (ERTC) check intended for the executive’s company. This incident underscores the complexities and severe penalties associated with bank fraud and bank fraud conspiracy.
How to Defend Against Bank Fraud Charges
Bank fraud and bank fraud conspiracy charges carry hefty penalties, including up to 30 years in prison and fines up to $1 million. For aggravated identity theft, the penalties include a mandatory two-year prison sentence, consecutive to any other sentence, and fines up to $250,000. Defending against such charges requires a comprehensive understanding of the law and the specifics of the case and experience obtaining favorable outcomes in Federal Court.
Bank fraud and conspiracy to commit bank fraud are complex and serious charges that can lead to significant legal consequences. If you are accused of bank fraud or any type of conspiracy along with some type of COVID Fraud or PPP Fraud it is essential to act swiftly by seeking experienced legal COVID Fraud attorney who holds an understanding of your rights and options. If you are being pursued by the Securities, Financial & Cyber Fraud Unit of the US Justice Department then with the right defense strategy, it is possible to navigate these challenging charges and work towards a favorable outcome.
The white collar crime of Bank Fraud can come with a harsh punishment of prison time and fines of up to a million dollars. You need a committed team of Bank Fraud defense attorneys when facing bank fraud charges that will help lessen or eliminate the penalties that you might be facing. At Dhar Law LLP, our experienced team will do everything in our power to protect you and build a strong case in your defense. Please Contact a member of our team today for more information (617) 880-6155
