Shaw Ruling Gives Feds More Leeway In Bank Fraud Cases

Law360, New York (December 12, 2016, 7:13 PM EST) -- The U.S. Supreme Court made clear in its Shaw v. United States decision on Monday that the Bank Fraud Act can come into play even if a defendant did not target a bank when attempting to scam one of its customers, embracing prosecutors’ broad view of the statute that focuses on a bank’s ownership stake in customer accounts.

In a unanimous decision, the Supreme Court said that prosecutors merely have to prove that a defendant’s alleged fraudulent actions involved accounts controlled by a bank, even if the bank was not the intended target under both prongs of the bank fraud law, since the...

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