Types of Fraud
The use of deception or misrepresenting a material fact to secure an unfair advantage or benefit is known as fraud. Fraud can take various forms, with financial identity fraud, wire fraud, mortgage or bank fraud, healthcare fraud, and credit card fraud being among the most common in South Carolina. No matter the type of fraud allegations you are facing, it is up to the prosecution to prove beyond a reasonable doubt that you intentionally or knowingly deceived another person.
Fraud charges can be intimidating, making you fearful of what to expect when you step into the courtroom. At Ryan Beasley Law, we are committed to continuously keeping our clients apprised of their case’s status, never leaving you to wonder what lies next. If you are currently facing fraud charges, the Greenville white collar crimes attorneys at Ryan Beasley Law are prepared to protect your rights.
Financial Identity Fraud
Financial identity fraud is a type of identity theft recognized under South Carolina law, which involves obtaining another person’s identifying information for financial gain. The identity information may include another’s Social Security Number, bank account number, credit or debit card numbers, driver’s license, digital signature, or personal identification number (PIN). For example, the offender may steal a person’s credit card to make unauthorized purchases. Financial identity fraud is considered a felony in The Palmetto State, punishable by up to ten years in prison.
Wire Fraud
Devising a scheme that involves using the internet, telephone, or other electronic communication to defraud someone of money is considered wire fraud. When interstate wire communications are used, wire fraud is charged under 18 USC §1343. To be convicted, the prosecution must prove that you voluntarily and intentionally devised a plan or participated in a plan to defraud another of money.
Federal wire fraud contains two sub-sets, with a base level charge punishable by up to 20 years in prison and a steep fine. If the offense was performed in connection with a federally declared disaster or involves a financial institution, then you may be imprisoned for up to 30 years, with a maximum fine of $1 million.
Since South Carolina does not have a specific wire fraud statute, the offense may be charged as obtaining a signature or property through false pretense. A conviction under state law may result in ten years in prison and a fine of $500 if the value of the stolen property is worth $10,000 or greater. However, if the value of the stolen property is worth $2,000 or less, then you may only be imprisoned for up to 30 days with a potential $1,000 fine.
Mortgage or Bank Fraud
Mortgage or bank fraud involves misrepresenting information about a property to secure a loan. Key information that may be misrepresented may include the borrower’s income, employment, overall assets, or the value of the property. It can be committed by borrowers or real estate agents, potentially with both groups collaborating in the fraud. In most situations, mortgage or bank fraud is prosecuted in federal court, subject to a potential prison sentence of 30 years and a $1 million fine upon conviction.
Check Fraud
At one time or another, you may have written a check only to find out that there were insufficient funds in the account. However, intentionally writing a bad check is a crime, with penalties depending on your criminal history and the amount of the check in question. Under state law, check fraud does not solely pertain to writing a check on an account with insufficient funds, but also writing a check for a bogus account, an account of which you are not a custodian, or using an incorrect or insufficient signature when signing the check. While a first-time offense is punishable by 30 days in jail, repeat offenders may be imprisoned for up to 10 years and fined as much as $2,000.
Healthcare Fraud
Billing for unnecessary services, upcoding, unbundling, kickbacks, and billing for services not provided are just some examples of healthcare fraud. Unbundling occurs when a provider bills for multiple services that would be covered by a single billing code, while upcoding involves billing for more complex services than were actually provided. A healthcare professional found guilty of medical assistance provider fraud may be imprisoned for three years and fined $1,000 per offense.
Federal Fraud Charges
Any type of fraud offense can be charged in federal court if certain conditions apply. A federal charge will apply if interstate communications are involved, if the offense impacts a federal agency or federal institution (such as a federally-insured bank), or if a federal law has been violated. If you have been accused of a federal crime, you want an attorney who is familiar with the federal court process. At Ryan Beasley Law, all three of our Greenville criminal defense attorneys have federal bar admissions, meaning that you are in more than capable hands when facing federal charges.
Speak with Our Greenville White Collar Crimes Lawyers
If you or a loved one has been accused of fraud, acquiring representation immediately will give you the best chance of a successful case outcome. At Ryan Beasley Law, we are dedicated to safeguarding your rights and helping you avoid time behind bars. To schedule your confidential consultation with one of our Greenville white collar crimes attorneys, our office can be reached online or by calling (864) 756-4204.