Last Updated on: 20th October 2023, 09:52 am

What to Do When Facing Federal Bank Fraud or Mortgage Fraud Charges

Being accused of bank fraud or mortgage fraud can be an incredibly stressful and frightening experience. These federal charges carry serious penalties and could result in substantial fines or years behind bars. However, just because you have been charged does not automatically mean you will be convicted. There are steps you can take to protect yourself and build the strongest possible defense.

Don’t Panic – Take a Deep Breath

The first thing to do when facing these serious allegations is try to remain calm. Easier said than done, I know! But panicking will only cloud your judgment. Take some deep breaths and don’t do anything rash. Don’t start trying to hide assets or flee the country – that will only make you appear guilty.

Be Cautious About What You Say

You have the right to remain silent under the 5th Amendment. Exercising that right is usually wise when first charged. Anything you say to investigators can potentially be used against you, even if taken out of context. So keep quiet until you have consulted with your attorney about the best legal strategy.

Hire an Experienced White Collar Criminal Defense Attorney

These types of financial cases are highly complex. You need an attorney well-versed in federal fraud crimes who understands banking and mortgage industry practices. Be sure to ask about their specific experience defending bank fraud and mortgage fraud cases.

An experienced attorney will protect your rights, review evidence, challenge improper police procedures, and make sure you get treated fairly every step of the way. Public defenders are often overworked and may not be able to give your complex case the attention it deserves.

Don’t Try to Handle This Alone

Going it alone without an attorney representing you is extremely unwise. Federal prosecutors have vast resources at their disposal. An experienced legal advocate levels the playing field and makes sure your interests are protected.

Be Truthful With Your Attorney

Your conversations with your attorney are privileged under the attorney-client privilege. So you can be totally honest even if the truth seems incriminating. Your attorney can’t help mount the best defense if they don’t know all the facts and circumstances. Don’t leave anything out.

Provide Your Attorney With All Relevant Documents

Financial fraud cases often come down to examining documents – bank records, mortgage applications, tax returns, etc. Provide your attorney with copies of any documents related to the allegations so they can start piecing together the evidence.

Don’t Violate Your Bail Terms

If released on bail, be sure to comply with all conditions set by the court. This usually includes not leaving the area, surrendering your passport, and having no contact with certain individuals. Any bail violations could land you back in jail and negatively impact your case.

Explore All Defenses With Your Attorney

There are many avenues to proving your innocence. Common defenses in fraud cases include:

• You had no intent to defraud
• You were entrapped by law enforcement
• You were an unwitting participant
• Someone else used your identity

A skilled attorney will analyze the prosecution’s case, identify weaknesses, and determine the best defenses given the specific facts involved.

Consider Using an Investigator

A private investigator can dig deeper into the facts and possibly uncover evidence or witnesses that bolster your defense. Your attorney can hire an investigator on your behalf to help build your case.

Weigh the Benefits of a Plea Bargain

Prosecutors will often offer a plea deal in fraud cases to avoid the time and expense of a trial. Your attorney will discuss the pros and cons of any plea bargain offer and whether it makes sense given the charges and potential penalties.

Prepare for Trial If No Plea Is Reached

If no acceptable plea agreement is offered, your attorney will fully prepare for trial. This includes filing pretrial motions, interviewing witnesses, assembling evidence, and readying legal arguments. Having an experienced trial lawyer is critical when deciding whether to go to trial.

Testify If Recommended by Your Attorney

You have the right not to testify or incriminate yourself. But sometimes telling your side of the story to the jury is the best trial strategy. Your attorney will advise you whether testifying would help or hurt your case.

Don’t Lose Hope – You Have Rights

The government has to prove your guilt beyond a reasonable doubt. Never give up hope. With an experienced attorney guiding you, many of these complex cases do get dismissed or result in not guilty verdicts. You have constitutional rights – exercise them.

Facing federal bank fraud or mortgage fraud charges is daunting. But taking proactive steps like hiring a skilled white collar criminal defense attorney can help you protect your freedom. Don’t go it alone. With the right legal advice and defense strategy, you have a fighting chance at beating the charges.

References:

Justice Manual on Bank Fraud Laws

Overview of Mortgage Fraud

Using Plea Bargains in Fraud Cases

Not Guilty Verdict in Mortgage Fraud Trial