A 34-year-old man who worked at a Wells Fargo branch in California chose to plead guilty to a charge of felony bank fraud. He is scheduled to be sentenced on Nov. 18 and could face of up to 30 years in prison. Authorities say that the man laundered money that was obtained by deceiving the IRS. Specifically, he unfroze bank accounts that Wells Fargo had put on hold because of suspected fraud despite lacking the authority to do so.
According to authorities, the investigation into the tax scam has resulted in 12 prosecutions. Furthermore, roughly $700,000 as well as four homes have been seized. The money was said to have been obtained by using fake identities as well as fake passports claiming to belong to people from Armenia.
Individuals who participate in schemes to defraud citizens, companies or the United States government may spend many years or decades in prison. They could also be ordered to pay restitution or forfeit assets obtained using stolen or laundered money. Those who are charged with fraud or similar crimes may want to hire an attorney to help them with their cases. This may make it possible to avoid jail time or otherwise obtain a favorable resolution.
An attorney may be able to claim that an individual didn’t know that he or she was acting in an illegal manner. It may also be possible to claim that an individual was coerced or threatened into committing fraud or other financial crimes. Finally, it may be possible for legal counsel to have evidence suppressed in an effort to get charges reduced or thrown out. This could be done by claiming that it was obtained illegally or asserting that witness testimony is coming from an unreliable or biased source.