Is bank fraud a felony or misdemeanor in Illinois? If you’ve received a subpoena or legal notice for anything related to bank fraud, you have to assess the scope of the legal issue quickly. Experienced lawyers in this area can help you as you try to find out what the legal situation is. Bank fraud has many legal complexities that need to be clarified before people can know for sure if a felony or a misdemeanor has been committed. This type of fraud may be classified as a felony in many cases where a judge determines that a “deceptive practice” has been used. However, things can escalate past that and become a felony.
The answer has a lot to do with the amount of money involved and who was cheated. In many cases, the dollar amount of the fine can be the same whether someone has cheated another party out of $300 or $100,000. Typically, the amount of time in a penitentiary will vary if a conviction is reached. Guilty parties may face between one year and 30 years in a penitentiary for different amounts of cheating.
Cases have many variables, and one of them can be the method employed to cheat people out of their money. A judge may hear cases involving embezzlement, check fraud, identity theft, and more as they determine whether the fraud charges constitute a misdemeanor or a felony.
So, is bank fraud a felony or misdemeanor in Illinois? It depends on the case. For more information, contact the Business Name.
