Financial institutions are routinely audited, and in the process turn up and flag suspicious activity. Questionable and incomplete paperwork can reveal a path to many counts of mortgage fraud within a single scheme.
The federal government takes a keen interest in banks and financial instruments for their inherent nature to do business across state lines. Federal investigators have a wealth of resources to deploy in unearthing fraud and may levy intimidating prison sentences that push a large majority of defendants to settle with a plea agreement.
To navigate the federal justice system, it is imperative you hire a competent defense attorney, and do so as soon as you suspect you are the target of an investigation. Regardless of your role within a mortgage or real estate fraud, if a federal agent requests to speak with you, do not do so without the advice and presence of a defense lawyer.
Georgetown Mortgage Fraud Lawyer
Michael J. Price handles cases in Williamson County and fights effectively for the defense of their clients. With one phone call to (512) 354-1880, you can set up a free, no-obligations consultation with our experienced Georgetown white collar defense attorneys.
Mortgage and real estate fraud are complex, document-heavy, and require solid research and financial understanding. Michael J. Price has the experience to handle your fraud case in federal or state court.
Mortgage Fraud Information
With the recent housing bubble, and continuing from the fallout of the bust, many people have been brought up on fraud charges relating to the acquisition of loans to purchase property based on false financial information. If the loans cannot be paid, and the property is foreclosed, the lender takes a major financial hit. Falsified documentation that is sent through wires (internet, radio or telephones) or mail, used to deprive another person or organization of property or money, is a federal crime. If the defrauded party is a financial institution, the government may seek a guilty verdict of bank fraud.
Those individuals employed in the real estate market, such as real estate agents, investors, underwriters, bank employees, loan officers, appraisers, and mortgage brokers, are especially at risk of being implicated in a mortgage fraud conspiracy.
Though mortgage fraud is considered a white collar crime, there should be no misconception of the lengthy prison sentences that can be inflicted on a guilty defendant. In addition to prison, the court will issue fines and confiscate property stolen from the victim, which can range into millions of dollars.
The penalty for one count of mail or wire fraud is up to 20 years in federal prison, a fine of not more than $250,000 (or $500,000 for organizations of one or more people), and restitution to the victim in the amount stolen.
Bank fraud may be punished by a maximum of 30 years in federal prison, a fine up to $1,000,000, and restitution to the victim.
Federal Mortgage Fraud Defense Lawyer in Williamson County
The Federal Bureau of Investigations casts a wide net when probing cases of mortgage or real estate fraud. Implicated parties will be questioned and possibly charged in order for federal prosecutors to get to a ringleader or pinpoint more characters in the scheme.
Price & Twine, PLLC will work every angle to maintain your freedom and not have you incorrectly associated in a wider conspiracy to commit fraud. Call us at (512) 354-1880 today to schedule a free consultation. Georgetown criminal defense attorneys Michael J. Price will take the time to answer your questions and discover the pertinent information to move your defense forward.