Fraud

According to 18 U.S.C. § 1344, bank fraud accuses anyone who knowingly executes, or attempts to execute, a scheme or artifice to defraud a financial institution. Covered are actions to obtain a financial institution’s moneys, funds, credits, assets, securities, or other property owned by, or under its custody or control. The actions are committed by means of false or fraudulent pretenses, representations, or promises.

Bank fraud continues to rise despite unique watermarks, heat-sensitive ink, and recognizable lettering. Among the most common forms of bank fraud are check, identity, accounting, loan and, credit card fraud. Identity theft and money laundering are also on this list.

Check fraud involves the forging of checks and check signatures as well as the altering of issued checks. Drawing on a deposited check before the money leaves the check writer’s account is check kiting. Identity fraud occurs when someone obtains credit by using fictitious identities. Identity theft is using another person’s private identifying information to obtain money. Money obtained is usually in the form of loans or credit.

PUNISHMENT – Bank fraud is a serious federal crime punishable by up to 30 years in prison and a fine of up to $1million.

The Fraud Enforcement and Recovery Act (“FERA”) of 2009 greatly enhances criminal enforcement of federal fraud laws. The Act harshly punishes mortgage fraud, securities fraud, and fraud of financial institutions.

If accused of bank fraud, you must fight hard. You must act fast. You must have your defense in place before the government has its case prepared.

Consult with criminal defense attorneys who take your concerns seriously. Attorneys who have the experience to successfully represent you in federal courts and before government agencies.

Have questions about bank fraud? If so, please contact us to confidentially discuss the best strategy and outcome for your case.

Contact Oberheiden, P.C. online today.

Pursuant to 18 U.S.C. § 1341, § 1343, mail and wire fraud both require intent, scheme, or artifice to defraud. Included is the obtaining of property by fraud, as well as mail or wire communication. Unlike wire fraud, mail fraud does not require communication across state lines.

Based on the broad definition of communication devices under federal law, prosecutors typically charge defendants with mail and wire fraud. Using a cell phone, email, regular mail, faxes, the Internet, or any other form of device to commit crimes, will likely result in charges of mail and wire fraud in addition to the underlying crime.

PUNISHMENT – Mail and wire fraud are federal crimes punishable by up to 20 years in prison and a $250,000.00 fine for individuals ($500,000.00 for organizations) for each offense, in addition to punishments, which may apply to convictions for underlying crimes.

The Fraud Enforcement and Recovery Act of 2009 (“FERA”) seriously enhances criminal enforcement of federal fraud laws. Mortgage fraud, securities fraud, and fraud regarding financial institutions are the most typical.

If accused of mail or wire fraud, you must fight hard. You must act fast. You must have your defense in place before the government has its case prepared.

Consult with attorneys who take your concerns seriously. Attorneys who have the experience to successfully represent you in federal courts and before government agencies.

For questions about mail or wire fraud, please contact us to confidentially to discuss the best strategy and outcome for your case.

Contact Oberheiden, P.C. online today.

Mortgage fraud is a federal crime where falsifying, misrepresenting, or omitting information on a loan application qualifies someone for better loan conditions. Mortgage fraud is a serious offense because it often involves additional crimes such as bank, wire, and mail fraud. Mortgage fraud occurs in various forms, each one constituting criminal conduct.

Income fraud occurs when a borrower overstates actual income to obtain a better loan. Or, shortly before the loan, the applicant “borrows” money from a friend to appear wealthier. The borrowed money is then returned after the loan application is complete. Because all lenders verify stated income with official IRS records, income fraud is fairly easy to detect.

Appraisal fraud is the attempt to intentionally overstate or understate a property’s real value. If the appraisal overstates the true price, the borrower can cash out. An appraisal understatement is of criminal use to reduce the price on a foreclosed property.

Fraudulent disclosure includes a failure to disclose liabilities, the falsification and misstatement of debt, and providing wrong employment status, among other acts.

PUNISHMENT – The Fraud Enforcement and Recovery Act (“FERA”) of 2009 greatly enhances criminal enforcement of federal fraud laws, in particular mortgage, securities, and fraud regarding financial institutions.

If accused of mortgage fraud or any of the above crimes, you must fight hard. You must act fast. You must have your defense in place before the government has its case prepared.

Consult with our attorneys who take your concerns seriously. Attorneys who have the experience to successfully represent you in federal courts and before government agencies.

Contact Oberheiden, P.C. online today.

Individuals charged with healthcare violations are typically accused of violating one of the following statutes:

• Anti-Kickback Statute (42 U.S.C. § 1320a-7b)
• False Claims Act (31 U.S.C. §§ 3729-3733)
• False, fictitious or fraudulent claims (18 U.S.C. § 287)
• Physician Self-Referral Laws (§ 1877 Social Security Act)
• Patient Protection and Affordable Care Act (PPACA)
• Healthcare Fraud (18 U.S.C. § 1347)
• Social Security Act (§ 1128B, Medicare and Medicaid laws)

Anti-kickback laws provide civil and or criminal penalties for individuals or entities, licensed or unlicensed, who knowingly and willfully offer, pay, solicit, or receive money or favors for referrals paid by Medicare or Medicaid programs, (42 U.S.C. 1320a-7b). The statute is broad in scope and considers transferring anything of value, directly or indirectly, overtly or covertly, in cash or in kind, to be payment and thus a kickback: e.g. bribes, rebates, gifts, discounts, above and below credit arrangement or lease payments and, waivers of payments. Some real life examples include the offering of frequent flyer miles, and dubious consulting agreements, etc. The statute has been interpreted to cover any arrangement where one purpose of the payment is to obtain money for the referral of services or to induce further referrals, (United States v. Greber, 760 F.2d 68 (3d Cir. 1985), cert. denied, 474 U.S. 988 (1985); United States v. Borarasi, 639 F.3d 774 (7th Cir. 2011)).

Fraud under the False Claims Act means that a contractor knowingly presents a false claim for payment to the United States or conspires to defraud the government by having a false claim allowed or paid. The level of guilt in 18 U.S.C. § 287, does not require knowledge or reckless disregard, but willful conduct.

If a facility files false claims for products in violation of the False Claims Act, the facility could be involved in the resulting investigation and may face prosecution. Fraud can occur in various forms.

• Billing Fraud (unperformed tests, double billing)
• Coding Fraud (up-coding, code jamming, unbundling)
• Testing Fraud (reflex and defective testing)
• Improper Cost Reports (unneeded procedures, phantom equipment)
• Offering free services
• Routine waiver of patient co-payments

The Patient Protection and Affordable Care Act (PPACA) strengthens enforcement for perceived healthcare fraud and abuse. A key feature of PPACA is revision of standards under the anti-kickback statute. The Act removes the requirement for knowledge of, or specific intent to commit a violation. It’s now easier for the government to begin enforcement procedures and to win battles in court. The government must still show that a defendant acted “knowingly and willingly” in offering or making payments to gain patient referrals. However, the government is no longer required to show that a defendant knew that the behavior was unlawful, (United States v. Mathur, 2012 WL 4742833 (D. Nev. 2012)).

PUNISHMENT – When accused of Medicare fraud, you must fight hard. You must act fast. You must have your defense in place before the government has its case prepared.

Consult our attorneys. They take your concerns seriously. And, they have the experience to successfully represent you in federal courts and before government agencies.

Have questions about Medicare fraud? Please contact us confidentially to discuss the best strategy and outcome for your case. Learn more about Medicare Fraud Defense.

Contact Oberheiden, P.C. online today.

Some actions triggering Securities and Exchange Commission (SEC) investigations are whistle blowers, insider trading, and self-reporting. Perhaps more than any other governmental probe, the SEC and DOJ expect instant, truthful, and complete misconduct reporting.

We determine the need for a financial restatement. We review the existence of misconduct by senior management, internal control flaws, and violations of law. This helps us decide on the best form of disclosure under SEC forms 8-K, 10-Q, 10-K and/or press releases.

PUNISHMENT – The Fraud Enforcement and Recovery Act of 2009 (“FERA”) enhances criminal enforcement of federal fraud laws. These laws cover mortgage and securities fraud, as well as fraud regarding financial institutions.

If accused of securities fraud, you must fight hard. You must act fast. You must have your defense in place before the government has its case prepared.

Consult with our attorneys who take your concerns seriously. We have the experience to successfully represent you in federal courts and before government agencies.

Have questions about securities fraud? Please contact us confidentially to discuss the best strategy and outcome for your case.

Contact Oberheiden, P.C. online today.