Charged Under 18 U.S.C. 1344 What Happens Next

A bank fraud indictment rarely arrives alone. Section 1344 counts are typically accompanied by wire fraud under 18 U.S.C. § 1343, conspiracy under § 1349 or § 371, and often aggravated identity theft under 18 U.S.C. § 1028A. Reading which counts are present, and in what combination, tells you more about the exposure than the bank fraud counts do by themselves.

The § 1028A count deserves attention first, because it carries a mandatory term that runs consecutively to whatever is imposed on the other counts. Its presence changes the arithmetic of every decision that follows. Law Offices Of SRIS, P.C. has been practicing since 1997. To discuss a bank fraud indictment, request a consultation at (888) 437-7747.

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Reading the Indictment

Three things are worth identifying immediately. Which prong of § 1344 is charged, since what the government must prove about who was deceived differs between them. How many executions are alleged, since each can support a count and lending relationships generate many. And whether a § 1028A count is present, since that determines whether the Guidelines range describes the full exposure or only part of it.

The indictment will also identify the institution, which establishes the jurisdictional element and tells you whose file needs to be obtained.

Initial Appearance and Release

Release is decided under the Bail Reform Act, 18 U.S.C. § 3142, at an initial appearance before a United States magistrate judge. Detention is less common in fraud matters than in narcotics or violent cases, though it is not automatic release.

Where the government seeks detention it typically raises assets, foreign ties, and travel history. A release plan answers those specifically, with a third-party custodian, verified residence and employment, surrender of passports, and conditions permitting continued work where possible, since employment supports both the release argument and a sentencing argument later.

Arraignment, the Schedule, and the Bank’s File

Arraignment is where a plea is entered, almost always not guilty, and where the trial date is typically set in the Eastern District of Virginia. The scheduling order that issues fixes the motions and disclosure deadlines working backward from that date. Under the Speedy Trial Act, 18 U.S.C. § 3161, trial must ordinarily begin within 70 days of indictment or initial appearance, whichever is later, subject to excludable periods and continuances granted on findings.

The distinctive early task in a bank fraud case is obtaining the institution’s complete file. The government generally received what the bank chose to produce, and the underwriting notes, exception approvals, internal correspondence, and post-default records that bear on materiality and loss frequently sit outside it. Requesting that material early, through discovery and where necessary by subpoena, is what makes the materiality and loss arguments available at all.

The loss theory is examined in the same period, because loss drives the range and because collateral valuation in secured lending is usually the most productive dispute.

Motions, Then Resolution or Trial

Motions practice concentrates on the sufficiency of the indictment, including whether the prong charged is identified; the financial institution element; multiplicity where each transaction has been charged separately; suppression where premises, devices, or records were seized; severance where codefendants are joined; and venue.

Resolution discussions turn on two figures rather than one: the Guidelines range on the fraud counts, and whether the § 1028A count can be resolved or dismissed. Because the latter adds a mandatory consecutive term, it is frequently the central objective in a negotiation. Collateral consequences, including licensure for brokers, appraisers, and bank employees, immigration status, and eligibility for federally related work, operate independently and belong in the same conversation.

Frequently Asked Questions

Why is aggravated identity theft charged with bank fraud?

Section 1028A applies where another person’s means of identification was used during and in relation to a listed offence, and bank fraud qualifies. It carries a term that must run consecutively to the sentence on the underlying counts, so its presence means the Guidelines analysis on the fraud counts does not describe the full exposure. Resolving or removing that count is often the main negotiating objective.

Will I be detained?

Detention is less common in fraud matters than in narcotics or violent cases, but release is decided individually under the Bail Reform Act, 18 U.S.C. § 3142, on the least restrictive conditions that reasonably assure appearance and community safety. In fraud cases the government commonly raises assets, foreign ties, and travel history, so the release plan should address those directly.

How do I get the bank’s records?

Through discovery in the first instance, and by subpoena where necessary. This matters because the government generally holds what the institution chose to produce, while the underwriting notes, exception approvals, internal correspondence, and post-default records that bear on materiality and loss frequently sit outside that production. Requesting them early is essential given the compressed schedule.

What should happen in the first month?

Release resolved; the indictment read for prong, count structure, and any § 1028A count; the institution’s complete file requested; the loss and collateral valuation theory examined; any forensic accounting examiner engaged; preservation confirmed; and an initial Guidelines calculation run, together with an assessment of the mandatory consecutive exposure if § 1028A is charged.

Can the number of counts be reduced?

Sometimes, through multiplicity arguments where each draw or transaction has been charged as a separate execution. The practical effect on exposure is limited, because the Guidelines range is driven by loss rather than count numbers, but a narrower indictment presents differently to a jury and can matter in negotiation.

What happens to my licence?

Licensing authorities for brokers, appraisers, loan originators, and bank employees run their own proceedings under their own standards, independent of the criminal case, and a charge alone can trigger review. For noncitizens there are immigration consequences that turn on the offence of conviction. Those tracks should be identified at the outset, since a resolution that looks efficient criminally can be damaging elsewhere.

Working With Law Offices Of SRIS, P.C.

Two things shape a § 1344 case more than the bank fraud counts themselves: whether a § 1028A count adds a mandatory consecutive term, and whether the institution’s complete file can be obtained rather than the portion the government received. Both are first-month tasks.

Mr. Sris, Owner and Founder of Law Offices Of SRIS, P.C., is a former prosecutor and is admitted in Virginia, Maryland, the District of Columbia, New Jersey, and New York. The firm has been practicing since 1997. Mr. Sris and the firm’s Of Counsel attorneys handle criminal defense matters across those jurisdictions, which matters in federal practice because a single investigation frequently reaches conduct, witnesses, and records in more than one state. Mr. Sris brings a background in accounting and information systems from George Mason University, applied to complex financial and technology-related cases.

The firm serves Northern Virginia from 1655 Fort Myer Dr, Suite 700, Room 719, Arlington, VA 22209 and central Virginia from 7400 Beaufont Springs Drive, Suite 300, Room 395, Richmond, VA 23225. By appointment. Call (888) 437-7747 to schedule. Request a consultation. Reach our location at (888) 437-7747.

This page provides general information about the sequence of a federal bank fraud prosecution and does not create an attorney-client relationship. Case results depend on a variety of factors unique to each case. Results may vary.

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Being charged is one stage of the case. Our page on bank fraud charges sets out the offence from start to finish.