Charged with Loan & Mortgage Fraud?
Fight your charges today!
Loan fraud or mortgage fraud, occurs when an individual intentionally misrepresents or falsifies information in a loan application for a mortgage or any type of bank loan. The prosecution must show that the defendant did so with the intent that the lender would rely on this fraudulent information to approve the loan. Anyone seeking a loan such as a homeowner, buyer, seller, broker, real estate agent or lender may be charged with loan fraud. Most importantly, the loan does not need to be funded for a person to be charged with this criminal offense.
Loan fraud cases are often handled by federal investigators, such as the FBI (Federal Bureau of Investigation) and thus an individual will need a Los Angeles Defense Lawyer who is experienced in handling Federal Crime cases as well as Fraud Crimes. Even if you are innocent of the charges, making a false statement to a Federal Investigator during the investigation is a separate crime in and of itself. Federal cases are handled differently than a state criminal case, and the Federal court process is unique. Only a
lawyer experienced with Federal criminal cases will be able to provide you with the best possible defense. Crimes of this nature must involve intent.
Defining Mortgage Fraud
If you so much as lie on your real estate loan application, it is considered to be mortgage fraud. This type of fraud has become much more common in today's society since the 2007 mortgage financing collapse. The FBI however, will punish anyone who misrepresents or omits information in order to purchase or insure a loan. Some common examples of mortgage fraud would be:
- Having a silent second mortgage
- Falsifying your employment income
- Having unrevealed kickbacks that are not in your purchasing contract
- Fabricating deposits
- Claiming to occupy property when you are not
- Falsifying contract prices to obtain a higher appraisal
- Repaying down payment gifts
If you are convicted of bank or mortgage fraud, your penalties will depend on the amount and value of the loan that was defrauded. A convicted offender can expect to face jail time of one year for a misdemeanor or up to 30 years in prison for a felony offense. There will also be steep monetary fines of $1,000 for a misdemeanor or up to $100,000 for a felony charge, plus some small additional fees. A probation sentence will also be imposed, this typically lasts up to a year sometimes more. Lastly, the offender will be responsible for paying restitution, repaying the injured party or fraud victim. If you were somehow forced or coerced into committing loan fraud, then your attorney may be able to fight for a decrease in punishment or alternative sentencing such a repayment to the lender in place of a jail sentence.
These types of charges are taken very seriously in a court of law and will not receive much leniency. If you are facing charges or are under investigation for loan or mortgage fraud or any type of white collar crime, it is important to consult with
Attorney Bernstein as soon as possible. Without a hard-hitting defense attorney at your side, it is easy to unintentionally incriminate oneself or take the blame for another simply by trying to cooperate with law enforcement. It is important that you do not speak about your charges with any law enforcement officials without your attorney present, you do have the right to remain silent.
Tried & True Criminal Defense
Los Angeles attorney, Robert M. Bernstein, exclusively practices criminal defense throughout Los Angeles County and the state of California. Attorney Bernstein has extensive experience as a criminal defense attorney and is a former prosecutor who understands every aspect of the criminal defense process. This experience allows him to better build winning defense strategies and compelling legal counsel even in the face of complex loan fraud charges. If you or someone you know has been arrested or is under investigation for loan fraud,
contact Los Angeles defense attorney, Robert M. Bernstein, immediately to see how he can help you.