When Is Fraud Involving a Bank Not Bank Fraud? Shaw v. United States
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Update 12/12/16: Today the Supreme Court unanimously ruled against Shaw and held that Section 1 of the bank fraud statute applies to a scheme to obtain deposits held by the bank even if the bank suffers no financial loss. The Court also affirmed that a bank does have a property interest in deposits that it holds, as both sides had basically ended up agreeing during oral argument. The Court sent the case back to the Ninth Circuit to consider the adequacy of the jury instructions, whether that issue was properly preserved, and whether any error in the instructions may have been harmless. See discussion below.
When Is Fraud Involving a Bank Not Bank Fraud? Shaw v. United States
When Is Fraud Involving a Bank Not Bank…
When Is Fraud Involving a Bank Not Bank Fraud? Shaw v. United States
Update 12/12/16: Today the Supreme Court unanimously ruled against Shaw and held that Section 1 of the bank fraud statute applies to a scheme to obtain deposits held by the bank even if the bank suffers no financial loss. The Court also affirmed that a bank does have a property interest in deposits that it holds, as both sides had basically ended up agreeing during oral argument. The Court sent the case back to the Ninth Circuit to consider the adequacy of the jury instructions, whether that issue was properly preserved, and whether any error in the instructions may have been harmless. See discussion below.