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Loss Amount

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In previous discussions, I have discussed the United States Sentencing Guidelines (U.S.S.G.). Here, I will briefly address the guidelines as they apply to calculating loss for financial crimes under U.S.S.G. § 2B1.1.

It is critical to know that the federal sentencing guidelines calculate loss amount to include not only actual loss amount but intended loss amount. An example will help …

A Defendant obtains 20 forged checks drawn on the accounts of “Victims”. Each forged check is for $10,000. The Defendant passes all 20 checks at different banks. On ten occasions, Defendant is successful resulting in acquiring $100,000 via fraud. On ten occasions, the bank declines to cash the checks resulting in $100,000 in unsuccessful attempts.

Using this example, the actual loss is $100,000, the intended loss amount is $200,000. For sentencing guidelines purposes, $200,000 is the loss amount.

There are ways to mitigate this loss amount, particularly where it brings an unjust result.

For further reading you may consider:

United States Sentencing Guideline §2B1.1.

“What Does Federal Economic Crime Really Look Like?” published by the United States Sentencing Commission in January 2019.

 

Written By: Attorney John Lovell

Financial Transaction Card Forgery Devices

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Possession of financial transaction card forgery devices in Georgia is different than possession of the cards themselves. In Georgia it is illegal to possess any devices used to fraudulently make financial transaction cards of a bank or other financial institution. All that is required to be found guilty of possession of these devices is a knowledge of what they are and actual or constructive possession of the devices themselves.

More On the Law

It is also illegal to possess a financial transaction card that has not been completed. That card could be missing the name, card number, expiration date, security code or other marking besides the signature that would identify it as a valid financial transaction card.

Consequences

A conviction for possession of financial transaction card forgery devices in Georgia is a felony punishable by at least one year incarceration.

If you are being investigated for or charged with financial transaction card crimes, you need to call our office today at 404-581-0999. Our offices of experiences financial transaction card forgery attorneys is here to answer your questions.

Criminal Receipt of Goods and Services Fraudulently Obtained in Georgia

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While it’s clearly illegal to fraudulently purchase goods and services with forged and fake financial transaction cards, currency and other financial devices, it is also illegal in Georgia to receive money, goods, services, or anything of value when you know that these goods were fraudulently obtained.

What’s the law on criminal receipt?

O.C.G.A. section 16-9-35 reads A person commits the offense of criminally receiving goods and services fraudulently obtained when he receives money, goods, services, or anything else of value obtained in violation of subsection (a) of Code Section 16-9-33 with the knowledge or belief that the same were obtained in violation of subsection (a) of Code Section 16-9-33.

If you are found guilty of the criminal receipt of goods and services fraudulently obtained in Georgia you are guilty of a felony and can potentially serve prison time.

As with all fraud and forgery crimes we have discussed so far, knowledge and intent are essential elements of committing this crime. The State must be able to prove beyond a reasonable doubt that you had the required intent to commit the crime, which in this case would be the knowledge that the goods or services were fraudulently obtained before receiving them, or once aware they were fraudulently obtained to return the goods or alert authorities.

Call us today!

If you believe you may be under investigation or have already been charged with criminal receipt of goods and services, please call our office immediately at 404-581-0999 to schedule a free consultation.

Creating Fake Checks

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Beyond the crimes of Deposit Account Fraud and Forgery in Georgia, it is also unlawful to create fake checks or other negotiable instruments that appear as they are the real checks of any financial institution.

What’s the Law on Fake Checks?

The statute, O.C.G.A. 16-9-21 reads:

It shall be unlawful for any person to print or cause to be printed checks, drafts, orders, or debit card sales drafts, drawn upon any financial institution or to execute or negotiate any check, draft, order, or debit card sales draft knowing that the account number, routing number, or other information printed on such check, draft, order, or debit card sales draft is in error, fictitious, or assigned to another account holder or financial institution.

Any person who is found to have broken the law as it relates to the above statute would be guilty of a felony with a prison sentence ranging from one to five years and a fine of up to $5,000.

What Should I Do?

If you are being investigated for creating fake or fraudulent checks in Georgia, call our office today for a free consultation. Our staff is experienced in defending these white-collar cases and can discuss potential defenses with you at your free consultation. Call us today at 404-581-0999.

by Ryan Walsh