The U.S. Supreme Court agreed on Monday to decide just what level of intent—or mens rea—is required to convict someone on federal bank-fraud charges.
In Shaw v. United States, the case the court agreed to hear next fall, lawyers for the plaintiff, Lawrence Shaw, concede that he intended to steal money from the Bank of America account of a wealthy foreign businessman. But they insist Shaw did not intend to take the bank’s money, so cannot be convicted under the law of a “scheme to defraud a financial institution.”
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