High Court Bank Fraud Case Hinges On Account Ownership

By Evan Weinberger (October 3, 2016, 6:40 PM EDT) -- The U.S. Supreme Court is set to hear arguments Tuesday in a case that could make it more difficult for federal prosecutors to bring some bank fraud cases, and may also help determine whether banks are legally owners of customer deposits once they are made.

The case, Shaw v. United States, centers on the question of whether prosecutors were correct to bring claims under the prong of the 1984 Bank Fraud Act requiring that they prove that an alleged criminal intended to defraud a bank when going after a depositor's account. One of the key questions to be answered is which...

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