Is Committing Fraud a Felony or Misdemeanor?

Under Tennessee law, fraud is any crime that involves intentional deception or misrepresentation for financial gain while depriving the victim of property or money.

Fraud charges can be brought against you through federal or state law, normally being classified as a theft charge. Keep reading to learn what acts are considered fraud and the types of penalties you will be up against if convicted.

Fraud Crimes

Fraud, like the crime of theft, is the act of taking something of value away from another person or entity. Unlike theft, fraud involves deceit or false pretense.

Fraud is a broad charge but may encompass any of the following crimes:

• Bank Fraud
• Identity Fraud
• Cybercrimes
• Forgery
• Embezzlement
• Wire Fraud
• Insurance Fraud
• Health Care Fraud

Elements of Fraud

The common elements of a fraud offense usually include the following:

• A person was dishonest about a material fact
• The person who is dishonest must know or believe that the statement is false
• Another person or entity must rely on the false statement
• The misrepresentation must have caused another person or entity a loss

Penalties for a Fraud Conviction

Many fraud cases are “wobbler” crimes, meaning they can be charged as either a misdemeanor or felony. The penalties you will be facing will depend on the nature of the allegations, the amount of money or property involved, and if the offense is financial.

While state statutes give a penalty range for each offense, you may be facing a more severe punishment if you have prior convictions.

For example, under Tennessee law, an accusation of forgery may be charged as the following:

• If the forged writing leads to a $1,000-$2,500 loss, you will be charged with a class E felony (up to six years in prison and a maximum fine of $3,000)
• If the forged writing leads to a $2,500-$10,000 loss, you will be charged with a class D felony (up to 12 years in prison and a maximum fine of $5,000)
• If the forged writing leads to a $10,000-$60,000 loss, you will be charged with a class C felony (up to 15 years in prison and a maximum fine of $10,000)
• If the forged writing leads to a $60,000-$250,000 loss, you will be charged with a class B felony (up to 30 years in prison and a maximum fine of $25,000), and
• If the forged writing leads to a loss of $250,000 or more, you will be charged with a class A felony (up to 60 years in prison and a maximum fine of $60,000)

However, each offense has different requirements under the law. For instance, if you are charged with credit card fraud involving less than $1,000, you will likely only be charged with a class A misdemeanor. A conviction could result in up to 11 months, 29 days in jail, and a fine of $2,500.

Contact an Experienced Nashville Fraud Defense Attorney

Any accusations of fraud can quickly discredit your business and your professional endeavors. If you have been charged with a fraud offense, our Nashville fraud defense attorney wants to hear from you. Contact the office today online or by phone to schedule your free case review.