Charges for Various Types of Federal Fraud

 Posted on May 10, 2024 in Fraud

There are laws protecting individuals, organizations, and businesses from suffering financially as a result of someone else’s false claims. The United States federal government takes accusations of fraud very seriously. A wide variety of actions can be included under the umbrella category of “federal fraud” and can result in a wide range of penalties and sentences. If you are concerned that you might be accused of federal fraud, speak with a skilled Chicago, IL federal fraud lawyer to review your options.

Wire Fraud, Bank Fraud, and Mail Fraud

Three types of fraud can be punished with up to a $1,000,000 fine and up to 30 years in prison. These include:

• Wire fraud: When you conduct fraud by wire, radio, or television. Additionally, there is no federal law specifically addressing mortgage fraud, so that type of offense is often prosecuted as wire fraud.
• Bank fraud: Deceiving banks and other financial institutions
• Mail fraud: When you use the Post Office services, including sending and receiving mail, to commit fraud.

Credit Card Fraud

Using credit cards fraudulently can result in fines of up to $10,000 and prison sentences of up to 10 years.

Tax Fraud

If you are caught trying to avoid paying taxes, you could be fined up to $100,000 and sentenced to 5 years in prison.

Medicare, Medicaid, and Health Care Fraud

If you submit fraudulent claims for payment that you know or should know are false, you might be fined up to three times the amount the program lost due to your false claims, in addition to $11,000 per claim.

Securities Fraud

If you are caught using manipulative or deceptive tactics to buy or sell a security, you could face significant fines and up to 25 years in prison.

Schedule a Free Consultation with a Chicago, IL Federal Fraud Defense Lawyer

As soon as you find out you are being investigated for fraud, you need to speak with a qualified Cook County, IL fraud defense attorney who has helped clients fight federal charges. At Law Offices of Hal M. Garfinkel LLC, Chicago Criminal Defense Attorney, we believe in your rights and will fight aggressively to protect them, regardless of what you are accused of. Additionally, Hal Garfinkel is a former prosecutor, and he uses that experience to build a strong defense. We also offer free consultations, so call 312-629-0669 to schedule yours.