Bank Fraud Jefferson Parish

La RS 14: 71.1 – Louisiana Bank Fraud Law

La RS 14:71.1 is the body of law in Louisiana that regulates Bank Fraud. It is a crime to commit Bank Fraud and as stipulated in the statute it is punishable under the law.

La RS 14:71.1 is to the effect that Bank Fraud means. (1) Defrauding an institution that deals in finance (2)  getting any of the funds, monies, credits, securities, assets, or other property that belongs to or is controlled by, or is in the possession of an institution that deals in finance through the use of fraudulent or false methods that includes you pretending, making wrong representations and wrong practices, also making false promises and transactions.

The Elements That Make Up Bank Fraud in Jefferson Parish

To be guilty of the crime of Bank Fraud in Jefferson Parish according to La RS 14:71.1 all these elements must be present:

  • That you wanted to defraud an institution in the finance sector (an institution of finances in this instance is not only a Bank because an Insurance Company may fall under this classification)
  • That you desired to get any of the things that belonged to the institution of finance which can include property, money, credits…etcetera.
  • Said property belonged to or was held by or was controlled by the institution of finance.
  • You used fraudulent or false methods that include you pretending, making wrong representations and wrong practices, also making false promises and transactions so that you will get that property that belongs to or was held by or was controlled by the institution of finance.
  • The defendant did so willingly, knowingly, and was aware of the fraud.

Examples of Bank Fraud

An employee goes to the bank of his employer pretending that he is that employer so that he can withdraw money from the account of the employer.

A man forges a check in order to withdraw money from an account that is not his and he should not withdraw money from.

Logging into someone’s online account and clearing the funds in the account.

The Possible Penalties of Bank Fraud in Jefferson Parish

According to La RS 14:71.1 the Penalties for Bank Fraud in Jefferson Parish includes:

  1. You can be imprisoned for up to ten years, this can be with or without hard labor.
  2. You may be fined to pay up to ($100,000) one hundred thousand dollars.
  3. You may be imprisoned and fined.
  4. If you are convicted under this section, you shall be ordered to make refund fully to the victim and other people that suffered loss because of your crime.

Possible Legal Defenses You Can Use Against Bank Fraud Jefferson Parish

You can be convicted for the offense of Bank Fraud in Gretna, Kenner or Metairie if the elements of the offense are present in your case, Attorneys at Barkemeyer Law Firm can help you. There are different legal defenses you can use in a Bank Fraud charge, some of them are:

  • You were falsely accused.
  • You did not act knowingly or with the intention defraud.
  • You acted under duress.

To help you understand Bank Fraud Laws in Jefferson Parish we are going to discuss the following:

  1. What is the definition of Bank Fraud according to Louisiana law.
  2. Elements of the crime of Bank Fraud.
  3. What are the Penalties of being convicted for Bank Fraud under La RS 14:71.1.
  4. How can you be defended against the charge of Bank Fraud in Court?
  5. Are Bank Fraud victims entitled to restitution from a person convicted of Bank Fraud.

If you have any questions after reading this article feel free to contact us at Barkemeyer Law Firm.

Definition of Bank Fraud According to the Law in Louisiana

Bank Fraud is a crime as stipulated in Louisiana law. It is defined in La RS 14:71.1. It is essential a willful act of defrauding an institution that deals in finance.  Getting any of the funds, monies, credits, securities, assets, or other property that belongs to or is controlled by, or is in the possession of an institution that deals in finance through the use of fraudulent or false methods that includes you pretending, making wrong representations and wrong practices, also making false promises and transactions.

Elements That Make up Bank Fraud According to Law in Louisiana

The elements of a crime are the things that must be proved before it can be said that a person did the thing they are accused of doing , therefore, the elements of Bank Fraud are those things that must be proved by the person prosecuting the case that you did what amounts to Bank Fraud and in effect you are guilty. These elements are:

  1. You intended to cheat the institution of finance in question.
  2. You obtained proceeds from the institution of finance, this could be money, funds, credit securities, property, or other assets.
  3. The proceeds you obtained did not belong to you, they were owned by someone else, belonged to or is controlled by, or is in the possession of an institution that deals in finance.
  4. Through the use of fraudulent or false methods that includes you pretending, making wrong representations and wrong practices, also making false promises and transactions you acquired those things.
  5. You did all these things knowingly and willfully, not under duress or honest mistake.

Penalties You Might be Faced With For Bank Fraud in Louisiana

When you are convicted of Bank Fraud the penalties range from prison term with or without hard labor to fine and restitution.

As contained in the relevant laws, the penalties if you are convicted of Bank Fraud are:

  1. Your prison term might be up to ten years but cannot be more than ten years.
  2. Your prison term might be with hard labor or without hard labor.
  3. You can be fined: your fine can be up to one hundred thousand dollars ($100,000) but not more. Your fine can be in addition to your prison term or only the fine.
  4. You shall be asked to return fully whatever property you took from the victim. This is what they call restitution.

Defenses You Can Depend on Against Bank Fraud

There are several defenses available to you if you are charged with Bank Fraud some of them are:

  1. You acted under duress: if you are charged with Bank Fraud one of the possible defenses is that you were forced to do it by virtue of the fact that you or a loved one was under the threat of serious harm from the person that forced you to do it, be it your employer or a stranger.
  2. You were accused falsely: the fact that you are not the one that committed the crime and you are being falsely accused is a very good defense.
  3. Lack of Intention or capacity to form intention can be a sound defense against Bank Fraud.

Restitution in Bank Fraud Cases

The relevant law is to the effect that a victim of Bank Fraud is entitled to restitution from you if you are convicted.