Last Updated on: 20th October 2023, 10:07 am

What to Do if You Are Charged with Federal Bank or Mortgage Fraud

Being charged with federal bank or mortgage fraud can be an incredibly stressful and frightening experience. However, it’s important to stay calm and take the right steps to protect yourself. This article will walk you through what to expect if you are charged, your legal rights and options, and tips for finding the best legal defense.

What to Expect If Charged

If your being investigated for bank or mortgage fraud, the first thing that will probably happen is you’ll get a target letter from the U.S. Attorney’s office. This letter lets you know your under investigation and invites you to try and persuade them not to indict you. If the U.S. Attorney’s office decides to press charges after the investigation, you’ll be arrested and made to appear before a judge who will inform you of the charges against you.

After your arrested, you’ll have an arraignment hearing where you’ll enter a plea of guilty, not guilty, or no contest. If you plead not guilty, which is usually the best idea, the judge will schedule additional court dates and proceedings. You may be let out on bail or bond while awaiting trial.

Understanding the Charges

There are a variety of federal laws that can be used to charge someone with bank or mortgage fraud. Some of the most common charges include:

• Bank fraud – Covers fraud against a federally insured financial institution. This can include check kiting, making false statements to obtain a loan, credit card fraud, etc.
• Wire fraud – Covers any fraud that uses electronic communications like email, television, or telephone.
• Mail fraud – Covers any scheme to defraud that uses the U.S. postal system. Many mortgage fraud schemes rely on mail fraud.
• Money laundering – Covers financial transactions involving proceeds from illegal activity, like fraud. Designed to hide sources of money.

These charges all carry hefty fines and years of potential prison time. It’s critical to take them very seriously and retain experienced legal counsel.

Your Legal Rights

The U.S. justice system provides everyone charged with a crime certain basic rights and protections. If your charged with bank or mortgage fraud, you have the right to:

• Remain silent – You don’t have to answer investigator’s questions or testify at trial.
• Legal counsel – You have the right to hire a criminal defense lawyer to represent you or have one appointed if you can’t afford it.
• Trial by jury – Your case would be heard by an impartial jury of your peers, not just a judge.
• Presumption of innocence – Prosecutors must prove the charges against you beyond a reasonable doubt.

Knowing your rights is an important first step to building the strongest legal defense possible. Don’t hesitate to invoke your right to remain silent until you have expert legal counsel advising you.

Building Your Legal Defense

The key to avoiding harsh penalties if your charged with bank or mortgage fraud is having an experienced white collar criminal defense lawyer build and argue your legal defense. Some potential defenses to explore include:

• You lacked criminal intent – Prosecutors must prove you knowingly and willfully intended to commit fraud. If you can show you acted in good faith or were unaware of wrongdoing, you may be able to defeat charges.
• You were entrapped – If prosecutors encouraged or induced you to commit fraud you otherwise wouldn’t have, an entrapment defense may succeed.
• Statute of limitations expired – There are deadlines on how long after an alleged crime prosecutors can file charges. If they missed the deadline, the case could potentially be dismissed.

A skilled lawyer will thoroughly investigate the facts of your case to determine if any viable defenses like these can be used to get charges reduced or dismissed. Don’t wait to get legal help if you think your being investigated.

Finding the Right Lawyer

Not all criminal defense lawyers have experience defending complex white collar crimes like mortgage fraud. When choosing who to hire, you want to look for:

• A lawyer with extensive experience defending bank/mortgage fraud cases in federal court.
• Someone highly rated by clients and legal associations.
• A lawyer with a track record of positive case results.
• Someone you feel comfortable communicating openly with.
• A large legal team with resources to thoroughly investigate your case.

Be wary of lawyers making outlandish claims or guarantees. No one can promise you won’t serve jail time or pay hefty fines. A diligent lawyer will carefully assess the facts of your unique case when advising on possible outcomes. Don’t let the charges against you go unanswered – get experienced legal help right away.

What to Avoid If Charged

After being charged, it’s natural to want to take actions to help your case. However, some things can actually end up harming your defense. Actions to avoid include:

• Talking to investigators without your lawyer – Don’t answer questions without counsel present.
• Tampering with evidence – Destroying documents or data can lead to obstruction charges.
• Leaving the country – Your passport may be seized to prevent flight.
• Discussing case details online – Posts can be used against you.
• Violating bail terms – This can get bail revoked and lead to jail time.

Let your lawyer handle communications, document collection, and case strategy. Focus on continuing day-to-day life and complying with all conditions of release.

Getting Your Finances in Order

Mounting a strong legal defense against federal charges will likely be expensive. Start getting your finances in order by:

• Listing assets – Tally savings, property, investments, and valuables you could liquidate if needed.
• Cutting costs – Reduce spending on unnecessary expenses.
• Reaching out to supporters – Discuss your situation with family/friends who may help.
• Researching legal aid – See if you qualify for a public defender or financial assistance programs.
• Looking into legal defense funds – Some white collar defendant groups offer help.

While not everyone can afford a top-tier criminal defense lawyer, there are resources out there. Ask trusted supports for help or loan recommendations. Saving evidence and witness statements is also key.

The Importance of Evidence

Since prosecutors must prove your guilt, any evidence you have to rebut their allegations or support potential defenses can be critical. Make sure to:

• Save communications – Emails, texts, voicemails, letters related to the charges.
• Photograph/photocopy relevant documents – Loan applications, disclosures, financial records.
• Get witness statements – Track down anyone who may be able to testify on your behalf.

Don’t delete or destroy any data after learning of an investigation. Your lawyer can help identify key evidence and arguments to challenge the prosecution’s claims.

Seeking a Plea Deal or Agreement

If the evidence against you is overwhelming, your lawyer may advise negotiating a plea deal or agreement. These involve pleading guilty in exchange for an agreed upon outcome like:

• Reduced charges – Pleading to a less serious offense.
• Sentencing recommendations – Prosecutors suggest a lighter sentence.
• Dropped charges – Dismissal of some charges filed.
• Immunity – Agreeing to testify against others in exchange for immunity.

Plea deals allow defendants to avoid the risks and expenses of trial. Make sure you understand all the terms before accepting any plea offer.

Getting Your Story Out There

If you believe your innocent and want to combat negative media coverage, you may want to discreetly get your version of events out through:

• Interviews with print media – Newspapers, magazines.
• Reaching out to TV outlets – News shows, special interest programs.
• Publishing content online – Blogs, social media.
• Online fundraising – GoFundMe, Kickstarter, etc. to raise legal funds.

This can help gain public support, but make sure not to directly discuss case details without your lawyer’s approval. Focus on sharing your background, passion for justice, and faith in the legal system.

Dealing with the Emotional Impact

Facing federal criminal charges takes a significant emotional toll. Make sure to:

• Talk to loved ones – Don’t isolate yourself, lean on your support system.
• See a therapist – Having an objective person to talk to can help.
• Take care of your health – Eat well, exercise, and rest when possible.
• Join a support group – Connect with others facing similar circumstances.
• Have faith – Remember these charges don’t define you as a person.

Dealing with the emotional side of things will help you stay strong and focused on your defense. Don’t lose hope – you have rights and many options.

The Bottom Line

Facing federal bank or mortgage fraud charges is undoubtedly scary. But with an experienced criminal defense lawyer advising you every step of the way, there are often good defenses to be made. Don’t panic, get legal help, and start gathering supporting evidence right away. The key is having the best legal representation possible on your side to protect your rights and future.