Bank decision highlights conflict over limits on fraud

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By Eddie Jauregui, Dan Small and Gary Klubok (November 3, 2021, 6:29 p.m. EDT) – Last month, the United States Court of Appeals for the Ninth Circuit released its decision in US v. Yates, an unusual bank fraud case with wide implications.[1]

The crux of Yates was that neither depriving a bank of accurate information, nor deceiving a bank into withdrawing an existing salary from the bank, can justify bank fraud convictions. The Ninth Circuit ruled that these two things are not knowable property interests under the Bank Fraud Act and overturned all convictions.

The theories of the government at Yates and the reasons why the Ninth Circuit rejected them are instructive for future cases, as they help …

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