You need to contact a criminal defense attorney as soon as you learn you’re being investigated for mortgage or bank fraud in Newark, are contacted by law enforcement authorities, or even suspect you may be in trouble. Your ability to defend yourself depends on your ability to know your rights, and only an experienced criminal defense attorney like Robert J. DeGroot Law can help.

Mortgage fraud is a serious crime, and one punished by significant penalties. Because mortgage fraud can involve different crimes at either the state and federal level, the potential penalties associated with the crime differ widely. It’s important to know that mortgage fraud is typically charged as a felony offense, but misdemeanor crimes are possible in cases where only a small amount of money is involved (usually less than $1,000).

Prison: A conviction for federal mortgage fraud charges can result in a federal prison sentence of 30 years. This is why it’s so important that you call us as quickly as you can if you find yourself in this situation.

Fines: Fines for mortgage fraud are often extremely high, especially when professional fraud is involved. A conviction for a single count of a federal mortgage fraud can result in a fine of up to $1 million.

Restitution: Mortgage fraud convictions often include restitution payments as well. Restitution is different than a fine, though they both involve money.

Probation: Probation sentences can be imposed for a mortgage fraud conviction separately from, or in addition to, fines and prison sentences. Probation sentences for mortgage fraud typically last at least one year, but longer terms are common.