According to Illinois criminal law, Financial Institution Fraud is a criminal offense that occurs when someone cheats a bank out of money or property of any form by lying or misleading the bank.
Financial Institution Fraud can be a minimal charge such as cashing a bad check. The more money that was stolen and the more elaborate the scheme, the more severe the punishment is going to be. If you have been previously convicted of theft, robbery, financial institution theft, or any other crime involving stolen money, then the penalties are going to be stricter.
(See Illinois Financial Crime Law Sec. 16h)
Can I fight a bad checks or financial fraud charge in criminal court?
Every case is different. No matter how petty or how elaborate the financial theft scheme you were involved in was, we have experienced attorneys who will take you through the legal process of getting your charges behind you.
For older charges, it might be possible to expunge the charge off of your record entirely.
If you call our office for a free consultation, we will we be able to tell you the specifics of your case and the possibilities of minimizing the damage to your future.
Illinois Bad Checks / Financial Institution Fraud Penalties
Financial Institution Fraud where the total value of money stolen was less than $300 is a Class A Misdemeanor which carries a possible sentence of up to one year in jail and a fine of up to $2,500.
If you have been previously convicted on a financial crime in the past, Financial Institution Fraud that has a total value of less than $300 is Class 4 Felony which carries a possible sentence of up to 3 years in a state penitentiary and/or a fine of up to $25,000.
Financial Institution Fraud that where the total value of stolen money is between $301 and $10,000 is a Class 3 Felony which carries a possible sentence of up to 5 years in a state penitentiary and/or a fine of up to $25,000.
If the Financial Institution Fraud involved between $10,001 and $100,000 it is a Class 2 Felony which carries a possible sentence of up to 7 years in a state penitentiary and/or a fine of up to $25,000.
If the Financial Institution Fraud involved more than $100,000 Class 1 Felony which carries a possible sentence of up to 15 years in a state penitentiary and/or a fine of up to $25,000. A robbery of a financial institution is also a Class 1 Felony.
Need Help? Free Criminal Defense Legal Consultation
Any financial fraud, from felony embezzlement to writing a bad check at the grocery store is almost always out of desperation and a difficult financial problem.
We understand what you are going through. If you made a mistake and showed bad judgement in a time of stress, we can help you fix the problem. Please contact out Illinois attorneys today for a legal defense consultation. There is no obligation for the intial advice.