Category: White Collar Crime · Statute: 18 U.S.C. § 1344 / F.S. 817 · Source: Florida Legislature
Understanding Bank Fraud in Florida
In Florida, bank fraud is a sophisticated white-collar offense that involves executing a scheme to defraud a financial institution or using false pretenses, misrepresentations, or promises to obtain money, assets, or securities under the custody or control of a bank. While the federal government aggressively prosecutes bank fraud under 18 U.S.C. § 1344, Florida state prosecutors target these schemes using a combination of statutes under Chapter 817 of the Florida Statutes, including organized scheme to defraud, communications fraud, and identity theft. Common examples of this offense include check kiting, submitting falsified financial statements to secure commercial loans, forging signatures on financial instruments, and using stolen identities to open fraudulent accounts.
What distinguishes bank fraud from simple theft is the element of systemic deception targeted directly at a financial entity or its depositors. Because these schemes often involve multiple transactions over an extended period, state prosecutors frequently aggregate the total financial loss. Under Florida's Florida Communications Fraud Act (F.S. 817.034) and grand theft laws, the severity of the charge escalates based on the monetary value stolen. If the scheme nets $50,000 or more, it is prosecuted as a first-degree felony, carrying a maximum penalty of up to 30 years in state prison and substantial fines that reflect the scale of the financial disruption.
Bail and Pretrial Release for Bank Fraud
Securing pretrial release for bank fraud in Florida often involves navigating complex financial scrutiny. Because these offenses involve allegations of significant monetary theft, judges frequently exercise their authority under Florida Statute 903.046 to inquire into the source of the funds used to post bail. If the court suspects that the collateral or cash premium for the bail bond was derived from the fraudulent scheme itself, a Nebbia hold may be placed on the defendant. This requires the defendant to present clear, documented evidence—such as legitimate tax returns, bank statements, or clean business assets—proving that the bail funds come from an untainted, lawful source before release is authorized.
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