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Bank Fraud

18 U.S.C. § 1344 (2005)

The Crime

It is unlawful:

  • to defraud a financial institution; 18 U.S.C. § 1344(1) (2005), or
  • 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; id. § 1344 (2005).

The Punishment

The punishment for a violation of section 1344 is

  • a fine of not more than $ 1,000,000,
  • imprisonment for not more than 30 years,
  • or both. Id. § 1344 (2005).