Wire fraud is a particularly serious charge that occurs when an individual uses the internet or any type of wire transmission to defraud another individual. Individuals who are charged with wire fraud must understand that this offense carries serious potential negative consequences and that the assistance of skilled legal representation is often essential in handling such a case.
The federal law concerning wire fraud was passed in 1952 as part of the Communications Act Amendment. This law prohibits any type of activity that is intended to defraud by the use of wire, radio, or television communications through either interstate or foreign commerce.
In order to convict an individual of wire fraud, federal prosecution must establish several elements beyond a reasonable doubt:
Wire fraud is a felony offense that can result in several particularly severe penalties.
One penalty can be up to a maximum of twenty years in prison. In cases where the victim of the wire fraud was a financial institution like a bank, the potential consequences of such a charge are heightened and can result in up to a maximum of thirty years in prison.
In addition to time in prison, individuals who are convicted of wire fraud can also face up to three years of probation and depending on which is greater a fine of either $250,000 or twice the amount of loss that caused by the fraud.
There are several ways in which individuals are often able to create strong defenses in response to charges of wire fraud, which include the following:
If you are the target of an investigation involving Wire Fraud, or you have already been charged with, strong and talented legal representation can make all the difference in the outcome of your case. Contact attorney Henry Fasoldt today.