Oklahoma Fraud Laws

The term “fraud” refers to any act or scheme that is intended to conceal or misrepresent information, typically for the purpose of financial gain. There are numerous ways in which fraud can be committed, and the penalties associated with a fraud conviction will depend on the specific details of the case.

Types of Fraud

Fraud is one of the more common white-collar crimes, meaning it is typically committed by business people and is usually non-violent in nature. However, regular citizens may inadvertently commit fraud without intent. An example of this would be check fraud, in which a person writes a check thinking they have the funds available, when in reality they do not. When the check bounces, they can be held liable.  In this scenario the charge would usually be charged as a misdemeanor Bogus Check case.

Other types of fraud that may be committed in Oklahoma include:

• Bank fraud
• Tax fraud
• Credit card fraud
• Welfare fraud
• Investment fraud
• Insurance fraud

Potential Penalties

The penalties for fraud will depend on the circumstances of the case. Typically, though, if the charge involves an amount that is less than $500, it will be considered a misdemeanor. The penalties for conviction can include up to one year in jail and a fine of up to $1,000.

If the charge involves an amount over $500, it can be prosecuted as a felony. The penalties for felony fraud are considerably stiffer: up to 10 years in jail, a fine up to $50,000 and payment of restitution.

Schedule a Free, No Obligation Consultation