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Financial Institution Fraud Attorneys in Michigan

Financial institution fraud (FIF) is an umbrella term covering schemes and acts of fraud that target retail banks, credit unions, check cashers, stockbrokers, and federally insured financial institutions. Generally, acts of financial institution fraud tend to compromise customer accounts or personally identifiable information, which aids the criminals in committing identity theft and, therefore, other acts of fraud. Due to the extensive financial damage that this type of fraud presents, the FBI and other federal agents and prosecutors make fighting FIF schemes a strategic priority.

For this reason, if you’re suspected of committing fraud, or you have just been arrested, you need to contact a financial institution fraud attorney who has experience in federal cases. Our criminal defense attorneys at Grabel & Associates have successfully helped many clients with their federal crimes cases, and we are confident that we can help you too. To discuss the details of your case, call our federal crimes law office at 1-800-342-7896.

Types of FIF Schemes

Because banks, credit unions, and many other institutions are federally insured, there are several victims for every instance of fraud, including the financial institution, the institution’s customers or clients, and the U.S. government. Also known as bank fraud, this federal crime is defined by 18 U.S. Code § 1344, and according to the law, financial institution fraud occurs when an individual uses executes a scheme “to obtain any of the moneys, funds, credits, assets, securities, or other property owned by, or under the custody or control of, a financial institution, by means of false or fraudulent pretenses, representations, or promises.”

These types of schemes may occur either externally or internally, and some examples of FIF schemes can include, but are not limited to:

External FIF schemes — stolen or counterfeit checks, account holder impersonation, misuse or unauthorized use of debit cards (or other access devices), credit card scams, and email hacking that leads to a financial loss (or theft of personally identifiable information).

Internal FIF schemesembezzlement, misapplication of funds, general ledger fraud, account takeover, and collusions with external fraudsters

In many cases, teams of individuals and criminal rings commit financial institution fraud, and often, there are numerous individuals implicated in the fraud scheme.

Common Mortgage Fraud Schemes

Mortgage fraud is a common and widespread sub-category of financial institution fraud. This type of fraud scheme typically involves a misrepresentation, misstatement, or omission that influences a bank’s decision about a mortgage. The fraudsters knowingly enact a deceptive scheme to get the bank to approve a loan, accept a reduce payoff amount, or agree to modified repayment terms. Following the housing market collapse, the FBI and other federal agents have grown substantially diligent and severe when it comes to investigating and prosecuting mortgage fraud schemes.

When it comes to mortgage fraud, there are two types of common schemes, including:

  • Fraud for profit — fraudsters work with industry insiders in order to misuse the mortgage lending process to steal cash and equity from homeowners and lenders
  • Fraud for housing — fraudsters are generally homeowners who employ illegal actions to maintain or acquire ownership of a house.

Punishments for Financial Institution Fraud

As with most cases of financial fraud, the punishments are highly dependent upon the circumstances surrounding the crime or the ethical violation. Nonetheless, 18 U.S. Code § 1344 states that individuals convicted of bank fraud can be looking at fines of up to $1,000,000 and/or imprisonment for up to 30 years. Additionally, if convicted of this crime, the offender will face the lifelong consequences of being a felon.

Contact the Defense Attorneys at Grabel & Associates to Fight Your Fraud Charges

The U.S. government takes extra measures to maintain the value and integrity of the financial industry, and because of this, individuals charged with financial institution fraud are prosecuted with sweeping severity. Whether you are suspected of or under investigation for fraud, or you have been arrested, you need to act quickly and contact a prominent, aggressive, and diligent team of criminal defense attorneys to fight for your freedom and protect your rights.

With years of successful cases defending fraud charges, our attorneys know that prosecutors have the burden of proof, and we will tirelessly and aggressively confront the prosecution’s narrative and evidence with our own evidence as well as industry-leading arguments designed around the unique circumstances of your case. If you’ve been charged with fraud contact our federal crimes law office immediately by dialing 1-800-342-7896 today.

Client Reviews

If you are reading these reviews you are about to make a decision that will have a large impact on the rest of your life. I choose Grabel and Associates to represent me in my case and I could not have been more satisfied with the level of professionalism and dedication to their clients. I had the opportunity to meet and work with multiple lawyers in the practice all of which showcased a vast knowledge and understanding of the inner workings of the legal system. When you choose Scott Grabel to represent you will open yourself up to all of his resources. Depending on your case Grabel knows experts in all fields. I worked with polygraph examiners, investigators, and forensics experts. Grabel and Associates will defend without prejudice of innocence or guilt. Scott Grabel was able to lead me through every step of the process with great communication the whole way. I would recommend Scott Grabel and Associates to my friends, family and anyone who is in need of representation. B. A.
Best attorney in state of Michigan. Caring and a true friend. Scott was with us every step of the way. He fought for a great injustice for our son and was able to provide an outcome that gave his life back. L. A.
Scott and his firm did an awesome job representing a family member of mine, I would highly recommend him and his firm! They were extremely reliable, trustworthy and very informative and did a great job with the case. I couldn't be happier with the results that we received, I can't speak highly enough about the great job he did. If you are thinking about using his firm, I would highly recommend, I would definitely use his firm again if needed, he is an a great attorney with a great firm, you won't be disappointed! M. F.