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How can you defend yourself against loan fraud charges?

On Behalf of | Mar 14, 2023 | White Collar Crimes

A huge number of Americans will apply for a loan at some point in their lives. The idea that a mistake during the application process can lead to loan fraud charges is truly terrifying.

Loan fraud can come in a variety of forms, such as bank fraud, mortgage fraud and other categories under the banner of consumer fraud. Knowing how to defend yourself against such charges can help you secure a favorable outcome even in the face of a serious white-collar crime accusation.

Know the burden of proof

When a lender brings charges of loan fraud against you, they and their prosecuting attorneys have the burden of proving that you have the intent to defraud and that you are guilty of knowingly taking action to do so. Knowing the stance the prosecution might take and calmly assessing the situation surrounding the charges against you will allow you to take an informed approach to building your defense.

Solidify your stance

The basis of most loan fraud defense cases is proving a lack of intent. For example, you can claim that you are not guilty of knowingly attempting to defraud the lender and that any improper actions are the result of a misunderstanding or human error. It can be challenging to provide evidence that proves beyond all doubt that you do not have malicious intent at the time of applying for a loan, but identifying the cause of your own mistakes can help in tracing the matter back to its source.

An ideal loan fraud defense would entail proving unequivocally that you are not guilty of fraudulent behavior. In the absence of such decisive evidence, it is important to convey that you do not have the intent to defraud your lender.