What is the crime of providing a False Statement?
It is a crime to provide a false statement to a federal agency as part of a criminal investigation or as part of a loan application to secure funds.
What is a False Statement to a Bank?
This involves presenting financial information to a bank when requesting a loan. It is a federal crime for anyone to willfully make a false statement to a federally insured financial institution. Lending institutions rely upon a company’s financial statements in extending credit or granting a loan. An individual must intentionally make a false statement to the financial institution in order to secure some form of financial rights (such as a loan or guarantee). The statement must relate to a material fact or consideration that the individual knows to be false. A fact is material if it is an important consideration in the determination of whether or not to extend a financial benefit.
What is a False Statement to a Federal Agency?
The US Code makes it a federal crime for an individual to willfully and knowingly make a false or fraudulent statement to a department or agency of the United States. The false statement must be material in nature. Making a materially false statement to another person with the knowledge that it will be transmitted to a federal agency is also a crime.
- Note: Federal appellate courts recognize the exculpatory no exception for simple denials made in response to government questioning as part of a criminal investigation. This type of reaction to government questioning will not lead to charges of making a false statement.
