Wire FraudA Boutique Law Firm That Produces Results
What is Wire Fraud?
Simply put, wire fraud is the use of any telecommunication, such as texting, calling, and so on, to defraud another. Wire fraud applies to schemes meant to defraud another that takes place digitally. An individual does not need to follow through with committing the act of wire fraud to be convicted. Rather a defendant may be convicted based on sufficient evidence that proves the defendant had the intent to defraud another. Though similar to mail fraud, wire fraud differs from mail fraud in that wire fraud is committed purely digitally. Mail fraud, which you can read more about here requires the fraud be committed via a mail carrier, such as USPS. Wire fraud is a federal charge and has the following major elements:
- The accused must have engaged in a scheme to defraud;
- Such scheme involved material misstatements or omissions;
- The scheme resulted in, or would have resulted in at its completion, in the loss of money, property, or honest services;
- The accused must have used interstate wirings in furtherance of the scheme to defraud; and
- The accused used or caused the use of interstate wirings.
All these elements combined create the charge of wire fraud. The most difficult and complex portion of proving wire fraud is the intent portion of the charge. As mentioned, wire fraud is a federal crime under 18 U.S.C. § 1343, meaning conviction can carry heavy fines and imprisonment.
What is Wire Fraud Conspiracy?
A wire fraud conspiracy charge is different from just a plain wire fraud charge, though it does, insome cases, accompany the charge of wire fraud. Wire fraud conspiracy occurs when two or more individuals agree to commit wire fraud, and the accused willfully joins the conspiracy with the intention of furthering its unlawful purpose. Wire fraud conspiracy is different from a general wire fraud charge in that it requires more than one individual be involved in the furtherance of defrauding another. When it comes to wire fraud conspiracy charges, all co-conspirators may be charged. Like wire fraud, a wire fraud conspiracy conviction carries the risk of large fines and imprisonment.
Individuals convicted of wire fraud face fines of up to $250,000 and up to 20 years imprisonment. Fines and imprisonment are per penalty, meaning if an individual is found guilty of two counts of wire fraud, for example, fines may be up to $500,000 and up to 40 years imprisonment. Such risky penalties for wire fraud necessitate the hiring of qualified, motivated individuals with experience in litigating federal crimes, which is what makes Cantafio & Song PLLC the right choice when faced with wire fraud charges.
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