Is Credit Card Fraud A Felony ?
Credit card is a felony in the United States of America. If the fraudster is caught, they are sentenced to prison for a minimum period of 6 months. However, how much time a fraudster spends in the prison depends mainly on the gravity of the fraud case. If he or she has embezzled huge amounts, then they may serve many years in prison. |
Sponsored Links :
|
There are several other consequences for credit card frauds. The levels of punishment vary state wise and also depend on the misdemeanor.
There are three different degrees of fraud, namely the first, second and third degree frauds, and each degree has two sections. Depending on the degree, the punishment is awarded. The first degree is considered as the lowest possible crime, and for this, sometimes a person may serve no jail time absolutely or also get 5 to 15 years. Anything is possible depending on the case. In case the person is doing it for the second time, then they get prison for about 3 to 6 years.
There are several different levels and based on what level the fraudster qualifies, the punishment is given. The minimum prison time may be nothing and the maximum can be 15 years. The person can also be penalized to pay in the tune $25,000 or lower in some cases.
However, a felony will show on the credit report forever. It is a permanent recording on the credit report. A person with a felony file will find it extremely difficult to find jobs in the future, and also to secure loans. If an alien national or a non-citizen of the United States by birth conducts felony, they are deported from the country.
More Articles :
|
