Justices Uphold Broad Use of Anti-Bank Fraud Law
WASHINGTON (AP) — The Supreme Court has upheld the broad application of a federal anti-bank fraud law
The justices on Monday upheld the bank fraud conviction of Kevin Loughrin, who used stolen checks as part of a scheme to take merchandise and cash from a Target store in Utah. Loughrin was sentenced to three years in prison.
Justice Elena Kagan said for the court that the law does not require the government to prove that a defendant intended to defraud a bank.
The Obama administration had argued that the law should be read broadly because banks lose about $1 billion a year to fraud.