Felony fraud charges in Ohio can require a strong legal defense to counteract the prosecutor’s efforts to convince a jury of your alleged wrongdoing. At the law office of McNamara & McNamee, we understand how overwhelmingly stressful an accused individual may feel facing a felony fraud trial. Under certain circumstances, however, you may waive your right to a trial by accepting a prosecutor’s charges. This generally occurs in an open court where you admit to any offenses as part of your plea and cooperation.
In one example, Federal prosecutors filed felony bank and wire fraud charges against a Buckeye State resident for allegedly defrauding a Kentucky bank in order to obtain a million-dollar loan. The defendant admitted to his actions of deceiving the bank, along with a separate equipment financing company and numerous individuals in four states. The purported fraudulent actions involved an alleged total amount of at least $4.6 million.
As part of the guilty plea that waived his right to a trial, he received a prison sentence of 46 months and three years of probation, as reported by The Herald-Dispatch. While he otherwise would have faced a sentence of up to 30 years in a federal prison, admitting to his actions may have helped him avoid lengthy incarceration.
Wire fraud charges allege that a defendant used the telephone, internet or U.S. mail to fraudulently obtain funds from companies or individuals located in another state. A wire fraud conviction may result in a 20-year prison sentence. When the wire fraud involves a bank or financial institution the maximum sentence is 30 years. When a defendant enters into a plea bargain with a prosecutor it may help in reducing the severity of the penalties.
Our page on federal offenses provides more information on your rights in counteracting the allegations.