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Criminal Law Newsletters

Bank Fraud and Financial Institutions

Congress enacted a bank fraud statute as part of the Comprehensive Crime Control Act of 1984. The purpose of the bank fraud statute was to fill the gaps that existed with respect to fraud against federally chartered or insured institutions. Thereafter, other federal acts were passed to expand the scope and coverage of the bank fraud statute. Some of the other acts included the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, the Crime Control Act of 1990, and the Racketeering Influence and Corrupt Organizations Act.

Criminal Misapplication

Criminal misapplication of funds of a financial institution is a federal crime. In order for the prosecution to be successful in a prosecution for criminal misapplication, it must show that a nexus existed between the misapplication and the defendant’s status with the financial institution.

FEDERAL LAWS REGARDING CARJACKING

Although offenses involving motor vehicles thefts are usually prosecuted by state and local law enforcement authorities, the increased number of such offenses and the increased use of violence in connection with the offenses caused Congress to enact a federal carjacking statute. Congress also directed the Federal Bureau of Investigation and the United States Attorneys’ offices to cooperate with state and local authorities in the investigation of such offenses and to prosecute some offenses in federal court.

NUNC PRO TUNC PROCEEDINGS

If a judgment or a sentence in a criminal proceeding is not properly entered in a trial court’s record, the trial court may retroactively enter the judgment or the sentence. Such a proceeding is called a nunc pro tunc proceeding. The only limitations on the nunc pro tunc proceeding is that a new trial must not have been granted, the judgment must not have been arrested, or an appeal must not have been filed.

Overview of the Racketeer Influenced and Corrupt Organizations Act of 1970 RICO

RICO was enacted in response to the threat to the American economy from the unfettered growth of organized crime. RICO was intended to assist in remedying the inhabitation of the development of admissible evidence necessary to bring criminal charges against individuals involved in organized crime. The United States Congress enacted RICO in the hope that it would in part permit prosecutors to revitalize corrupted interstate enterprises into legal businesses.

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