Chicago Bank Fraud Federal Lawyer – Defending Clients in Federal Court

If you’re on our website, it’s because you’re staring down something serious, maybe the most serious legal problem you’ll ever face. Let’s not sugarcoat it—federal bank fraud is not traffic court, it’s not some dispute you resolve after paying a fine. It is one of the most aggressive crimes the federal government charges individuals with, and once you’re in the arena of 18 U.S.C. § 1344, everything changes. We’re talking about 30 years federal time, up to a $1 million fine per count, and a permanent scar on your life. In Chicago, these prosecutions happen inside the Everett M. Dirksen U.S. Courthouse—for many it’s their first time stepping into a federal building, but for us, it’s where we work, day in, day out.

The prosecutors come out of the U.S. Attorney’s Office for the Northern District of Illinois, and unlike local prosecutors, these Assistant U.S. Attorneys have resources that don’t run out, agents who don’t get tired, and an endless appetite for convictions. And I’ll be straight with you about bank fraud cases: they are complicated, often unfairly gray, and the pressure on defendants is insane.

Here’s the difference—we push back. Hard. We’re not just your lawyers, we’re a national team with more than 50 years of combined trial and defense experience. We’ve defended people in Chicago, New York, LA, Miami—you name it. We’re the rock star legal team people call when everything is already on fire. When Todd Spodek defended Anna Delvey (Anna Sorokin), that defense played out on Netflix screens globally, but the actual work—the long nights picking through inconsistent records, catching every crack in the government’s story—that’s what made the outcome. And that’s exactly the kind of thinking we put into bank fraud cases in Chicago.

The Law: Federal Bank Fraud and Related Statutes

Federal bank fraud centers on 18 U.S.C. § 1344—scheming to defraud a financial institution or obtaining money under false pretenses. But the truth is, prosecutors rarely use just one statute. They pile on. Common add-ons include 18 U.S.C. § 1014 (false statements to financial institutions), 18 U.S.C. § 1956 (money laundering), and 18 U.S.C. § 371 (conspiracy against the United States). What starts as one accusation about a bank loan application often balloons into an indictment with 10 counts, each one carrying decades.

And who drives these investigations? Agencies like the FBI, IRS Criminal Investigations Division (IRS-CI), and the FDIC Office of Inspector General. Sometimes even the Postal Inspection Service appears if mailings were part of the scheme. If they’ve opened a file on you, believe me—months, sometimes years of surveillance, subpoenas, and recorded conversations sit behind that knock at your door. By the time you find out, the indictment could already be submitted to a grand jury. That’s how it works in Chicago as much as anywhere else.

Unlike some lawyers who read the statutes and then panic, we’ve been in the trenches, head to head with federal prosecutors, arguing before judges inside the Dirksen courthouse while the agents sit right there with their files stacked three feet high. We live this world. And we know how to dismantle it.

Maximum Penalties for Federal Bank Fraud

Here’s where people freeze. The max sentence under §1344 is 30 years per count, $1 million per count, and yes—the fines and prison stack. Restitution is mandatory, so they will also chase your money, your assets, your house, your future earnings. Asset forfeiture is not theory. It happens.

But sentencing guidelines matter enormously. The loss amount—whether $50,000 or $5,000,000—can be the difference between probation and decades. Enhancements happen if the fraud involved identity theft, use of sophisticated means, number of victims, or if it was connected to another felony (money laundering, tax fraud, wire fraud under 18 U.S.C. § 1343, etc). We’ve seen calculated loss inflate exposure absurdly, and we’ve challenged prosecutors and probation officers over that math. Hard. Because that math determines a life.

Look, I’ve seen Chicago cases where defendants took pleas to three years, others got nailed with 20 year sentences given conspiracy and gang affiliation overlaps. Sometimes the judge exercises discretion downward, sometimes they hammer because they believe the fraud was too systemic. There’s no automatic outcome. It’s about the fight you put up.

Recent Chicago Bank Fraud Cases Prove the Risk

We don’t talk hypothetical. Just in the Northern District of Illinois:

• 2023 Suburban businessman – pled guilty to bank fraud, sentenced to 3 years federal. No guns, no gang violence, just bank paperwork. That’s real.
• Former Illinois bank executive – took $2 million through fraudulent loans, convicted under §1344 and §1014, hammered in court and sentenced in federal prison.
• Conspiracy case in Illinois – two men, tied to laundering and fraud, enhancements stacked, prison terms stretched because of “sophisticated means.” Prosecuted with support from FDIC-OIG and IRS-CI.
• Major Chicago gang indictments – bank fraud attached to RICO cases, Black Disciples members seeing additional years stacked on drug and firearms convictions because prosecutors wanted every weapon possible.

These are not coast-to-coast headlines, they’re here in our backyards, they’re decided in Judge Levin’s courtroom, Judge Tharp’s courtroom, inside the Dirksen building with reporters at the door. And if they can drown your neighbor in a federal fraud case—they can drown you too.

How These Federal Investigations Really Start

Most defendants think: if I’m under investigation, I’ll know. Wrong. These cases often begin with a bank’s Suspicious Activity Report (SAR), filed with FinCEN, then routed to the FBI or IRS-CI. Agents then quietly subpoena your bank records, emails, maybe even QuickBooks or payroll entries. Months of collection, before a single human contact. By the time they interview you? They’ve already got their roadmap.

We’ve seen people pulled in first as “witnesses” and then blindsided as “targets.” And they’ll flip your employees, accountants, even relatives if they can, coercing cooperation by threatening them with related charges. In Chicago, these tactics are routine—it’s an ecosystem of FBI, IRS-CI, FDIC-OIG agents circling together, coordinated with the U.S. Attorney’s financial crimes unit. The point is: don’t wait until indictment. Early defense intervention can actually prevent charges, or at least reduce the scope.

Defenses We Build in Bank Fraud Cases

We’ve handled bank fraud cases all over—sometimes we win outright, sometimes we negotiate smaller counts, sometimes we suppress half the evidence. But look, the point is we win when others doubt. Some defenses we use:

• No Intent – honest mistake isn’t federal fraud. If we show intent is missing, jury doubt rises fast.
• Immaterality – the alleged misrepresentation wasn’t important enough to alter a bank’s decision.
• Reliance & Delegation – many small business owners rely on accountants or employees. Blaming them isn’t always enough, but it matters when intent is unclear.
• Procedural Smacks – if FBI agents overstepped subpoenas, if warrants missed probable cause, we suppress evidence. It changes leverage.

Federal discovery openings are complicated, and yes sometimes prosecutors bury the bad evidence under mountains of paper. We know how to cut through it. That’s what 50 years of combined experience does—it teaches you not only the law but the games prosecutors play. And it teaches you how to win.

Chicago Specifics—Why Geography Matters

Every courthouse has its personality. In Chicago’s federal court, judges tend to know financial cases well, many coming from private practice backgrounds in securities and banking before joining the bench. Prosecutors here are unrelenting on fraud because the district historically targets financial crimes, white collar combined with organized gangs. You often see bank fraud rolled up into grand, sweeping indictments meant to make headlines and prove the office’s “tough on crime” stance. Knowing the court’s history matters. Knowing the agent circles, the AUSAs, the courtroom patterns—it changes outcomes. That’s the advantage we bring that some local lawyers don’t.

Your Questions, Answered

Can I be sued personally for bank fraud?

Yes, but there’s a split: The criminal case is government only, filed under federal law. The civil side—banks or investors suing to reclaim losses—can happen separately, sometimes even simultaneously. So one set of prosecutors can be threatening 20 years while another set of civil lawyers target your home equity. We’ve been through both. We know how to navigate both.

If I report fraud, does the bank help me?

Banks don’t “help you,” they protect themselves. The minute fraud is alleged, banks file internal reports, push compliance protocols, and almost always trigger external federal agencies (FBI, IRS-CI, FDIC-OIG). From there, the process is out of everyone’s hands. That’s why assuming “the bank will just fix it” is a recipe for disaster. They won’t. They can’t. Once the feds are inside—it’s war.

Why Hire A Chicago Federal Bank Fraud Attorney Now?

This is the part people don’t get. Federal is not state. State court in Cook County might give you probation on something minor. Federal court? With an AUSA and FBI agent staring you down? Probation is a pipe dream in most fraud scenarios. It’s just night and day. Longer statutes of limitation, heavier sentencing guidelines, organized investigations with years of prep—completely different animal. That’s why you must hire a law firm that gets it.

We know this courthouse. We know these prosecutors. We know what early intervention looks like. Sometimes we can open the conversation with prosecutors, find out if charges are real, shift things before they’re filed. That kind of access only comes from having been through it countless times, and yes—winning.

We’re national, but we’re local when it matters. Our office takes calls 24/7 because when the FBI shows up at 6 am, you don’t have time to Google for a lawyer—you need someone ready now. And when you hire us, loyalty goes only to you. Not to prosecutors, not to judges, not to the press. You. That’s how we function. That’s why we’ve taken cases everyone else thought unwinnable. And walked out with results that shocked people.

Next Step

Facing a federal bank fraud charge in Chicago is life-changing. But time is your enemy. Every day you delay, prosecutors move, grand juries deliberate, agents add layers to the file that buries you deeper. We can’t stop the government from preparing—but we can stop them from controlling the entire narrative. We’ve built defenses that pull apart cases piece by piece until suddenly their big indictment looks hollow. We’ve done it for others, we can do it for you.

Call Spodek Law Group immediately. We’re ready to hear you, to guide you, and to fight for you before it’s too late.