November 23, 2022
Have you been accused of committing credit card fraud in Colorado?
In this post, we’re going to explain how the law works for this white collar crime, and what you can do to fight back against your charges.
Colorado Credit Card Law
Either of the following acts qualify as credit card fraud under Colorado law.
Criminal possession of a financial device
This includes having control or possession over any financial device that the person knows, or reasonably should know, to be stolen, lost, or delivered by mistake as to the address or identity of the account holder.
A financial device is any device or instrument that can be used to obtain credit, cash, services, property, or any other item of value, or to make financial payments with the following:
- A credit card, debit card, banking card, guaranteed check card, or electronic fund transfer card;
- A check;
- A money order;
- A negotiable order of withdrawal;
- or a share draft.
This is another type of credit card fraud in which someone knowingly possesses or uses the financial identifying information, personal identifying information, or financial device of another without lawful permission or authority, with the intent to obtain credit, cash, services, property, or any other item of value, to conduct a financial payment, or to use to apply for or complete an application for an extension of credit or a financial device.
Identity theft also involves falsely altering, completing, making, or uttering a financial device or written instrument that contains any financial identifying information or personal identifying information of another person.
A knowledgeable attorney will understand how the charges apply in your case.
Penalties for Credit Card Fraud in Colorado
These are the penalties you can expect if a conviction occurs.
The criminal possession of a single financial device is a class 1 misdemeanor.
The criminal possession of two or more financial devices is a class 6 felony.
The criminal possession of four or more financial devices issued to at least two separate account holders is a class 5 felony.
If you provide false information, you could face up to one year in prison and a fine of up to $3,000, even if you did not obtain anything of value.
If convicted for the criminal possession of a financial device, you could face between six months and three years in prison. You will also be required to pay between $5,000 and $100,000 in fines in addition to restitution.
A conviction for identity theft is a class 4 felony. The penalties vary based on the combined value of the items or services that were unlawfully taken.
If the total amount is under $2,500, the penalty is up to one year in prison and a fine of up to $3,000.
If the total amount is between $250 and $2,500, the penalty is up to five years in prison and a fine of up to $10,000.
If the total amount is between $2,500 and $35,000, the penalty is up to 10 years in prison and a fine of up to $20,000.
If the value is over $35,000, the penalty is up to 20 years in prison and a fine of up to $100,000.
Any prior convictions for theft-related crimes may enhance the penalties.
Facing a charge for credit card fraud? Worried that your actions might put you in danger? The more you arm yourself with knowledge, the better your chances are of obtaining a successful outcome.
About the Author:
Denver-based criminal defense and DUI attorney Jacob E. Martinez is a knowledgeable and experienced litigator with a record of success providing innovative solutions to clients facing criminal charges of any severity. Mr. Martinez has been designated a Top 100 Trial Lawyer by the National Trial Lawyers and has been awarded both the Avvo Client’s Choice Award and Avvo Top Attorney designation, evidencing his reputation for his exemplary criminal and DUI defense work and high moral standards.