Federal fraud crimes are generally charged as felony offenses; however, there are circumstances where a misdemeanor conviction may be obtained depending on the facts of the case. Felonies are distinguished from misdemeanors due to the fact that a felony has the potential to involve a prison sentence of a year or more, whereas a misdemeanor conviction can result in a maximum jail term of one year.

There are a wide range of penalties associated with a federal fraud crime conviction and the potential sentence for a federal fraud conviction can vary significantly depending on the facts surrounding the case. Other factors are the specific law violated and the defendant’s criminal history.

Federal crimes are enumerated under the Code of Laws of the United States of America, otherwise abbreviated to the United States Code, or U.S.C. This is a compilation and codification of the permanent federal laws of the United States. The main edition is published every six years by the Office of the Law Revision Counsel of the House of Representatives.

The federal fraud laws can be found under the United States Code, as well as the corresponding penalties. A federal fraud crime conviction may involve incarceration in a federal prison, fines, restitution and probation. For example, under 18 USC § 1344 – Bank Fraud, when someone knowingly attempts to or executes a scheme to defraud a financial institution, they face up to $1,000,000 in fines, or imprisonment for no more than 30 years, or both.