Bank and Securities Fraud

Operating from The Law Offices of Allen Sawyer in Stockton, Sacramento, and Northern California, criminal defense attorney Allen Sawyer handles a range of criminal cases at both the state and federal level, and is experienced in defending federal bank and securities fraud cases.

Knowledgeable Bank and Securities Fraud Defense

Federal Bank and securities fraud comprises a wide variety of offenses that are prosecuted by the federal government, including the Enforcement Division of the Securities and Exchange Commission (SEC) and the U.S. Department of Justice (DOJ). As this crime is considered a serious federal felony, penalties can amount to substantial fines and even long-term prison sentences. Anyone under investigation for federal fraud should immediately seek out a federal criminal defense attorney seasoned in navigating the complexities associated with tackling this sort of fraud. As an experienced federal fraud lawyer, Allen Sawyer is highly familiar with the various aspects of fraud and can provide legal representation across a wide range of offenses, expertly tailoring an effective defense that meet the demands of your specific case.

What Is Bank and Securities Fraud?

Broken down according to the federal statutes that specifically define them, bank and securities fraud can be explained according to the following definitions:

• Bank Fraud- As defined by 18 U.S.C. § 1344, bank fraud makes it a crime to knowingly execute, or attempt to execute, a plan to defraud a financial institution or to, by fraudulent means, obtain any money, credits, assets, securities, or other property owned or controlled by a financial institution. Making false statements to a financial institution is a criminal act under 18 U.S.C. Section 1014.
• Securities Fraud-18 U.S.C. § 1348 criminalizes using manipulative or deceptive means in order to buy or sell a security or to influence an investor’s decision-making ability to buy or sell a security. Fraud can be established by the SEC even without evidence of intent.

Penalties for Bank and Securities Fraud

Steep penalties accompany fraud convictions, as demonstrated by the following breakdown:

• Bank Fraud – Convictions of bank fraud bring hefty fines of up to $1,000,000 and/or prison sentences of up to thirty years.
• Securities Fraud – Securities fraud is punishable by a maximum imprisonment of 25 years plus an extensive fine. The SEC frequently imposes fines upwards into the tens of millions or even hundreds of millions of dollars. 18 U.S.C. § 1349 makes any attempt or conspiracy to violate section 1348 punishable as a violation of 18 U.S.C. § 1348.