In West Virginia, there are laws dealing with different types of fraud. If you face a fraud charge and are then convicted, what sort of penalties can you expect? Will you face time in jail? Large fines?

You might find yourself surprised by the answer to that question. There is a lot that varies from case to case, all dependent on the convicted party.

Factors influencing fraud penalties

The Federal Deposit Insurance Corporation discusses penalties related to fraud crime convictions. These penalties often involve hefty fines and decades of potential time in jail. The severity of the penalty often depends on several factors, including:

  • If the crime is a felony
  • If you were working alone or as part of an entity
  • How many people or corporations claim victimization
  • The amount of defrauded assets in question

Fraud convictions have lasting impacts

For example, mail fraud is a felony crime. If convicted of mail fraud, you face up to 20 years in jail. What if the plaintiff accuses you of taking advantage of a situation of national emergency? You can face up to 30 years in jail. Also, you face a fine of up to $1,000,000. You may also face this fine if convicted of fraud targeting a financial institution. What if you use wire communication to further a fraud crime also nets hefty penalties? You face up to 20 years in jail.

Any form of fraud targeting or involving a bank will result in a fine of up to $1,000,000. Obstructing the examination of a targeted financial institution can cost you, too. You may get up to 5 years in jail and a fine. Thus, most fraud convictions result in decades of potential jail time and devastating fines.