Ask Reggi Your Question Now
Can you summarize LARS 14.71.1?
BY MISAPPROPRIATION WITHOUT VIOLENCE > Bank fraud
Short Summary
This provision under the Louisiana Revised Statutes, specifically under the Criminal Law section, addresses bank fraud. It states that any individual who knowingly executes or attempts to execute a scheme or artifice to defraud a financial institution or obtain property owned by or under the custody or control of a financial institution through false or fraudulent means shall be subject to imprisonment, a fine, or both. In addition to the penalties, the convicted person must make full restitution to the victim and any other person who suffered a financial loss. The term ‘financial institution’ is defined in R.S. 6:2(8).
Whom does it apply to?
Any individual who knowingly executes or attempts to execute a scheme or artifice to defraud a financial institution or obtain property owned by or under the custody or control of a financial institution through false or fraudulent means.
What does it govern?
Bank fraud
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Imprisonment for not more than ten years, or a fine of not more than one hundred thousand dollars, or both. Additionally, the convicted person must make full restitution to the victim and any other person who suffered a financial loss as a result of the offense.
Jurisdiction
Louisiana