What are the penalties for bank fraud?

In California, bank fraud is a white-collar crime, and those convicted of it can face serious penalties. Under California law, bank fraud is considered a form of theft and is punishable by up to three years in prison and/or a fine of up to $10,000. Additionally, if the fraud was related to the sale or purchase of a security, the maximum sentence can extend to five years in prison and/or a fine of up to $250,000. If the individual was in a position of trust with the bank they are accused of defrauding, the penalties can become even more severe. These individuals can face a sentence of up to seven years in prison and/or a fine of up to $500,000. It should be noted that providing a false statement on a loan or credit application is also a form of bank fraud. This crime is also punishable with potential jail time and/or a fine. The penalties for bank fraud can be harsh. If you have been accused of committing this type of crime in California, you should speak with a lawyer about your legal rights and options. An experienced attorney can provide you with essential legal advice and help you build the strongest possible defense.

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What are the penalties for bank fraud?

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