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False Statements to Deceive A Financial Institution Lawyers
What is False Statements to Deceive A Financial Institution ?
If you made false statements or overvalued property to influence a financial institution you may be found guilty of committing a white collar crime.
What Bank Activities Are Protected against Making False Statements or Overvaluing Property?
Some bank activities a person might make false statements or overvalue property to influence a financial institution include:
- Applications
- Purchase agreements
- Repurchase agreements
- Commitments
- Loans
- Extension of credit
What Must Be Proven to Find Me Guilty?
To be found guilty of making false statements or overvaluing property to deceive a financial institution, you must have:
- Made a false statement or report
- For the purpose of influencing a financial institution
- Upon any application, commitment, loan, etc.
It does not matter if the financial institution relied on your false statement or overvaluing
What Is the Penalty for Making False Statements or Overvaluing Property?
If you are found to have made false statements or overvalued property when dealing with a financial institution, you may face up to a one million dollar fine, or up to thirty years in prison, or both a fine and imprisonment.
How Can I Avoid Being Accused of Making False Statements or Overvaluing Property?
To prevent accusations against you, it may be a good idea to label your documents "pro forma" or "hypothetical."
Do I Need a Lawyer?
To avoid being accused of making a false statement or overvalue property to a financial institution, an attorney specializing in white collar crimes can discuss ways to avoid a dispute. A white collar crime lawyer can protect your rights if you have been accused of making false statements or overvalued property to a financial institution.
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