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When you’re facing a federal issue, you need an attorney whose going to be available 24/7 to help you get the results and outcome you need. The value of working with the Spodek Law Group is that we treat each and every client like a member of our family.
NYC FDIC Fraud Lawyers
Fraud Against the Federal Deposit Insurance Corporation
Fraud against the Federal Deposit Insurance Corporation (FDIC) is a serious federal crime, often committed in conjunction with other federal crimes, that can frequently result in large fines and substantial jail sentences.
Background on the FDIC
The Federal Deposit Insurance Corporation was established by President Franklin Roosevelt and Congress in 1933 as a response to the bank failures that had proliferated across the United States during the Great Depression.
A government-sponsored enterprise, the FDIC insures bank depositors against bank failure for deposits up to $250,000, a limit that was last increased in 2008. However, FDIC insurance can be utilized on up to six types of accounts at a single financial institution, so individuals can ultimately claim up to $1,500,000 from the entity.
In addition to its role insuring bank deposits, the FDIC also offers guarantees on interbank loans. This function, known as the Temporary Liquidity Guarantee Program, allows banks to access each other’s funds to make loans and repay deposits during brief shortages in liquidity.
If you are looking for a lawyer that listens, is aggressive where needed, and holds his word above all else, Todd is the best pick. I had hired multiple attorneys prior to hiring the Spodek Group for a white collar case. The first thing that stood out to me was the cost, as anyone going through the process and dealing with the system, money was tight at that time - especially after hiring and firing multiple lawyers. The cost was not as high as others which was definitely a plus. Todd's intake process was also unlike other attorneys. He took the time to actually listen. He cared. He was trying to put himself in my shoes while I was explaining the situation to him and he really took the time to understand the whole situation. Other lawyers will give you 15 mins and send you a retainer agreement. Not Todd, I think he spent almost two hours with me as I was explaining everything.Not only was he great during the onboarding process, he was supportive and very informative through the entire plea process and eventually sentencing. After hiring him, I asked if I should hire a prison consultant, he told me to save my money as he would do everything they would. He was right and held up to his word. Later on I would hear from others that went with the prison consultants that they were a waste of money - I am glad I listened to Todd!When it came time for sentencing, two days prior to sentencing, the prosecutor tried increasing my proposed prison time by almost double - apparently a normal move. Todd and his team worked with me non-stop through the weekend prior to sentencing to ensure that I was not given additional prison time. Again, he took the time to listen and came up with a strategy to explain the case with great detail.Unfortunately, I did plead guilty as that was my best option. Todd and his whole team wrote up nearly 300 pages of a summary of what happened and why I should not be given prison time. If I breakdown the amount I spent with Todd versus the amount of work that I saw being done, I am shocked I was not charged four times as much. The other benefit was, a lot of criminal defense lawyers were just a single attorney with a paralegal or two. Todd had a team of people that I dealt with (5-7 people that I interacted with), but he was ALWAYS accessible. It would never take him more than an hour to reply unless he was in court.I was sentenced to prison and I was emotionally distraught. Todd and his team did whatever they could even after sentencing to make sure I was alright. He personally stayed in touch with my family to ensure I was doing alright and offered support to them. Most lawyers would consider the job complete at sentencing, not Todd.After prison, Todd still spent time with me to make sure I was on the right track and avoiding any potential risks in the future. He has also been giving advice on how to navigate probation etc and has not been looking at the clock for billing.Although I wish I had never been arrested in the first place, I am glad I had Todd and his team in my corner. Without them I likely would have had to spend a lot more time in prison than I did.Thank you, Todd, and the entire Spodek Law team, for helping turn what was a nightmare into a manageable situation!
I am immensely grateful to the entire team at Spodek Law Group for their unwavering dedication and exceptional expertise throughout my case. From our initial consultation to the final resolution, their professionalism and tireless advocacy made all the difference. Their strategic approach and attention to detail instilled confidence in me every step of the way.Thanks to their hard work and commitment, we achieved a truly favorable outcome that exceeded my expectations. Not only did they navigate the complexities of my case with precision, but they also provided invaluable support and guidance during what was undoubtedly a challenging time. I cannot recommend Spodek Law Group highly enough, especially attorneys Todd Spodek and Claire Banks; they are beacons of excellence in the legal profession.YSP.
Todd, Ralph and Alex are amazing. Helped my husband get from a double digit number with multiple charges to a single digit, by the time I blink he will be out. They very professional and help with all your needs. They dealt with my anxiety and worry very well and they understand that your family member needs to get home as soon as possible.
Believe every single review here about Alex Z!! From our initial consultation, it was evident that Alex possessed a profound understanding of criminal law and a fierce dedication to his clients rights. Throughout the entirety of my case, Alex exhibited unparalleled professionalism and unwavering commitment. What sets Alex apart is not only his legal expertise but also his genuine compassion for his clients. He took the time to thoroughly explain my case, alleviating any concerns I had along the way. His exact words were “I’m not worried about it”. His unwavering support and guidance were invaluable throughout the entire process. I am immensely grateful for Alex's exceptional legal representation and wholeheartedly recommend his services to anyone in need of a skilled criminal defense attorney. Alex Z is not just a lawyer; he is a beacon of hope for those navigating the complexities of the legal system. If you find yourself in need of a dedicated and competent legal advocate, look no further than Alex Z.
I don’t know where to start, I can write a novel about this firm, but one thing I will say is that having my best interest was their main priority since the beginning of my case which was back in Winter 2019. Miss Claire Banks, one of the best Attorneys in the firm represented me very well and was very professional, respectful, and truthful. Not once did she leave me in the dark, in fact she presented all options and routes that could possibly be considered for my case and she reinsured me that no matter what I decided to do, her and the team will have my back and that’s exactly what happened. Not only will I be liberated from this case, also, I will enjoy my freedom and continue to be a mother to my first born son and will have no restrictions with accomplishing my goals in life. Now that’s what I call victory!! I thank the Lord, My mother, Claire, and the Spodek team for standing by me and fighting with me. Words can’t describe how grateful I am to have the opportunity to work with this team. I’m very satisfied, very pleased with their performance, their hard work, and their diligence.Thank you team!
I recently had Spodek Law Group represent me for a legal matter in NYC and I am thoroughly impressed with their services.Alex Zhik secured the best possible outcome for my case.It was a seamless journey from the initial consultation to the resolution of my legal matter. From the moment I spoke to Todd about my case, his enthusiasm to help was evident, setting a positive tone for the entire experience. The efficiency and professionalism displayed by the team is commendable.A particularly noteworthy aspect of their service is their user-friendly portal to upload your documents/evidence. This not only simplified the process, but showcases their commitment to streamline the client experience.Lastly, in an industry where legal fees can often be a concern, I found their pricing to be very reasonable, making needing legal assistance feel accessible and stress-free.I am grateful for their support and wouldn't hesitate to turn to them again in the future.
The Federal Deposit Insurance Corporation serves as more than simply a guarantor of loans, however. Under its federal mandate, it is also a bank examiner with broad powers to oversee banks throughout the United States. One of the most important regulatory roles is to take over banks that have become insolvent and to “resolve” them.
To prevent financial institutions from becoming insolvent and therefore in need of resolution, the FDIC requires them to adhere to strict capital and liquidity requirements. Banks must submit detailed paperwork explaining their financial position and bank examiners hired by the FDIC frequently examine bank’s corporate records to ensure that they are well capitalized.
Types of FDIC Fraud
Fraud against the Federal Deposit Insurance Corporation can unfold in many ways. Most importantly, cases that implicate an individual in fraud against the FDIC often involve other federal crimes that the Federal Bureau of Investigation and the United States Department of Justice will also vigorously pursue.
FDIC fraud cases usually involve a few scenarios. One of the most common is when bank insiders intentionally take illegal actions that lead to a bank failure. This can include violating other banking laws that, through their cumulative effect, result in a bank becoming insolvent.
It can also occur when bank employees, typically executives, seek federal insurance funds for loans that they did not actually make. In some of these schemes, bankers have created fake loans entirely, solely so they can receive federal funds to which they are not entitled.
The other common types of fraud against the FDIC involve false statements made to the corporation and its staff during the two phases of its work. In some cases, prosecutions have resulted from false information that is provided to the FDIC’s examiners and auditors about a bank’s condition. Because this information is essential to the way the FDIC allows banks to operate, false statements are punishable by stiff sentences.
When a bank is being resolved, bankers can also be charged with federal crimes if they make false statements to the FDIC and its staff about insurance claims. This is to prevent bankers from making statements that allow themselves or other scammers to receive federal insurance payments to which they are not entitled.
A final type of FDIC fraud can occur when banks or other financial institutions falsely advertise that they are insured by the corporation. Because this deceives consumers, it is a federal offense.
Penalties for FDIC Fraud
Penalties for fraud against the FDIC, and related federal crimes like mail and wire fraud, bank bribery, and perjury are severe. Jail sentences for each count can be up to 30 years imprisonment and fines and restitution frequently reach into the millions of dollars. In addition, the number of prosecutions for white collar financial crimes has dramatically increased since the financial crisis.
If you or a loved one is being investigated or facing charges for fraud against the Federal Deposit Insurance Corporation, you should contact an experienced criminal attorney immediately. Because of the complexity of federal financial laws, a lawyer with experience in criminal cases involving banking regulation in essential.
An experienced attorney can help you safeguard your legal rights during an investigation, decide whether to strike a plea deal with prosecutors, and – if necessary – present your defense to a judge and jury
