Fraud prosecutions make up the bulk of cases filed in U.S. District Courts. These fall under the rubric of whited collar offenses. Federal prosecutions are governed by federal statutes called the United States Code. It is not the same as State laws, although much of the activity overlaps. There are various statutes that prohibit conduct that is considered fraud. Each statute is specifically tailored to that conduct and can carry its own punishment range. The following are but a few of those statutes that are most often prosecuted.

Bank Fraud

Bank Fraud involves fraud occurring within or against financial institutions that are insured or regulated by the U.S. Government. Most banks and credit unions are federal insured by either the FDIC or FSLIC. By virtueof being federally insured, any violation constituting a fraud on one of these institutions is considered to be a federal bank fraud. The statute is found at Title 18 U.S.C. Section 1344 that states:“Whoever knowingly executes, or attempts to execute, a scheme or artifice—

(1) to defraud a financial institution; or

(2) 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 shall be fined not more than $1,000,000 or imprisoned not more than 30 years, or both.”

Daniel Wannamaker has represented many individuals and corporations charged with bank fraud. Mr. Wannamaker’s experience includestaking a number of these cases to trial and won. SEE TRIAL SUCCESSES. Many attorneys will profess the ability and skill to handle bank fraud cases... at Wannamaker & Associates talk the talk and can walk the walk!

Mail Fraud

Mail fraud is just as it sounds. This statute covers any intended fraudulent conduct that utilizes the postal service or private carrier. This is a very common crime that is most often prosecuted by the government. If you attempt to further any fraudulent activity and use a postal service in that crime will be prosecuted for mail fraud. An example of bank fraud and mail fraud used in tandem is when a person uses the mail to send a credit card application using someone else’s identity or lies on the application. The statute governing is found at 18 USC 1341 and says it part:

“Whoever, having devised or intending to devise any scheme or artifice to defraud, or for obtaining money or property by means of false or fraudulent pretenses, representations, or promises, or to sell, dispose of, loan, exchange, alter... for the purpose of executing such scheme or artifice or attempting so to do, places in any post office or authorized depository for mail matter, any matter or thing whatever to be sent or delivered by the Postal Service, or deposits or causes to be deposited any matter or thing whatever to be sent or delivered by any private or commercial interstate carrier, shall be fined under this title or imprisoned not more than 20 years, or both....”

At Wannamaker & Associates, we have handled hundreds of mail fraud cases and have successfully defended against those charges.

Wire Fraud

With the advent of use of the internet, telephone, fax and wire transfers, wire fraud is fast becoming a the replacement for mail fraud as the go to crime for the government. Just think of the last time you use the mail. Now think of the last time you communicated over the internet or wired a bank transfer or sent a Western Union money order. That particulate statutes is 18 USC 1343 and says:Whoever, having devisedor intending to devise any scheme or artifice to defraud, or for obtaining money or property by means of false or fraudulent pretenses, representations, or promises, transmits or causes to be transmitted by means of wire, radio, or television communication in interstate or foreign commerce, any writings, signs, signals, pictures, or sounds for the purpose of executing such scheme or artifice, shall be fined under this title or imprisoned not more than 20 years, or both....” Wannamaker and Associates has represented many clients over three decades charged with this crime.

Securities Fraud

Securities Fraud is a complex and difficult area of the law. Even the most seasoned federal attorneys have never represented anyone charged with securities fraud, much less successfully. At Wannamaker & Associates, we have successfully negotiated a number of security fraud cases and in some cases, kept our clients from being charged criminally. In one case, a client was illegally manipulating stock sales and we negotiated a civil penalty rather than a criminal prosecution. Securities fraud is found at 18 USC 1348 and states that any person who knowingly executes or attempts to execute a scheme to defraud anyone in connection with a commodity or a security registered with the Securities and Exchange Commission can be prosecuted for securities fraud. This is not a case for a novice or simply someone who is licensed in federal court. It is very complex and must be handled by someone with experience and the expertise in this areaof the law. Wannamaker & Associates has that experience and expertise as shown by our track record.