Fraud is a
federal crime in which the prosecution must provide clear and convincing evidence of
each element in order to gain a conviction. An experienced and thorough
wire fraud attorney is vital in defending fraud charges and the penalties
they incur, which can include fines, restitution and prison sentences.
What is wire fraud?
Wire fraud is similar to other
white collar crimes as it involves a fraudulent scheme and the specific intent to obtain money,
property or any private assets using false information or non-existent
Title 18 of the US code, section 1343, requires the use of a medium such
as telephone, radio, or electronic or audio-visual communication across
state lines for a crime to be charged as wire fraud. Essentially, if you participated in a scheme or act to defraud others
and used any form of interstate electronic or wire communication, you
can be prosecuted for wire fraud, even if the scheme did not actually
defraud anyone. As with any type of fraud, wire fraud is a federal offense
punishable by fines, the repayment of gains or damages to those defrauded
and imprisonment, among others.
With the increase of technology and advancement in communication, wire
fraud is being prosecuted with increasingly severe consequences. If you
are convicted of wire fraud you can face outstanding fines and prison
sentences of up to 20 years. If the violation affects a financial institution
you can be fined up to $1,000,000, incarcerated for a maximum of 30 years,
or both. Wire fraud is a heavily penalized federal crime and should not
be taken lightly. Do not wait to speak with our firm about how
Lessem, Newstat & Tooson, LLP can help you with your case.