Because wire fraud impacts a victim’s financial stability, and often underlies and accompanies other criminal behavior, prosecutors aggressively pursue these cases. If you are facing charges of wire fraud, contact a criminal defense lawyer as soon as possible.
What Is Wire Fraud?
Wire fraud is defined under 18. U.S.C. §1343 (fraud by wire, radio, or television).
The wire fraud statute is broadly designed to include any fraudulent activity involving interstate wire communications to illegally or deceitfully obtain property or money from someone. The person committing the crime may use false promises, pretenses, or representations to convince the victim to give them property or money.
Wire fraud can be a one-time scheme by a single person to defraud another out of money or property. However, it can also include conspiracy to commit wire fraud by a group of individuals working together to defraud multiple victims.
Common Types of Wire Fraud
Wire fraud schemes may use a sense of urgency to trick and manipulate the victim into giving the scammer property or money.
Scammers may also use fear to get someone to give them money or property, such as telling a grandparent their grandchild has been arrested and needs money for bail.
Common types of wire fraud include:
- Internet scams like the Nigerian Prince scam, romance scams, and fake contest scams in which the scammer asks for money, property, or bank information.
- Social Security scams that use emails and other electronic communication to alert you that your Social Security number has been suspended and threaten the victim with arrest.
- Phishing emails in which scammers posing as financial institutions or businesses ask for login and password information or account numbers, saying your account has been compromised. The email may include a link for you to click to confirm your identity, but when you click the link, it downloads programs that give the scammers access to your device.
- Telemarketing fraud can include scams seeking money for charities or selling services and goods. However, the charity does not exist, and the victim never receives what they purchased.
- Hiring and job scams create a fake employer with a job listing online. People searching for a job submit applications with their private details. The fraudster uses the information to steal their identity, money, or property from the victim.
- Rental fraud is similar to hiring fraud. A scammer creates a fake website that looks just like the site for a residential rental company. However, the property does not exist or is owned by another person, and the victim loses their deposit and/or rent.
- Healthcare fraud involves patients, medical providers, and others using electronic communications to deceive an insurance company or government agency.
Wire fraud charges are often brought with other white-collar federal crimes. Individuals charged with wire fraud often face charges of insurance fraud, identity theft, bank fraud, securities fraud, health care fraud, and tax evasion.
Who Investigates Wire Fraud Charges?
Wire fraud charges are investigated by federal law enforcement agencies such as the Federal Bureau of Investigation (FBI), the Federal Trade Commission (FTC), and the U.S. Postal Inspection Service. These agencies have units dedicated to investigating financial crimes, including wire fraud.
How Are Wire Fraud Charges Prosecuted?
Wire fraud charges are typically prosecuted in federal court.
In a wire fraud case, the prosecution must prove that the defendant knowingly and intentionally used an electronic communication to devise a scheme to defraud and that the scheme resulted in financial loss to another party.
If convicted of wire fraud, individuals may face fines and imprisonment. The severity of the punishment depends on factors such as the amount of money involved in the fraud, the level of harm caused to victims, and any previous criminal history.
It’s important to note that even a seemingly minor role in a wire fraud scheme can result in serious charges and consequences. Anyone facing wire fraud charges should immediately seek the representation of an experienced criminal defense attorney.
What to Do if You Have Been Accused of Wire Fraud
If you have been accused of committing wire fraud, it is essential to seek legal counsel immediately. An experienced criminal defense lawyer can help protect your rights and build the best possible defense against your charges.
Your attorney will start by reviewing all evidence gathered by prosecutors. In some cases, there may be legitimate explanations for the wire communication activity being interpreted as a crime.
For instance, large money transfers between accounts could be flagged as potential fraud, whereas they could be part of a legitimate business transaction or personal asset management. Similarly, frequent communication between parties in different states or countries might raise eyebrows, but could simply be part of an international project or family correspondence.
Depending on the circumstances of the case, a wire fraud attorney could also negotiate with prosecutors to potentially reduce or dismiss charges. The ability to make restitution is often a critical factor in negotiating a resolution. Each matter is unique, though, so it is critical to work with an attorney who understands the nuances of wire fraud laws and can personalize your defense.
Penalties and Consequences of Wire Fraud
Wire fraud convictions can result in severe penalties. Committing wire fraud could result in a fine of up to $250,000. A conviction for wire fraud could also result in a 20-year prison sentence and payment of restitution to the victim.
If the wire fraud targeted a financial institution, the prison sentence can increase to 30 years.
In addition to these penalties, a wire fraud conviction can have lasting consequences on an individual’s reputation and future employment opportunities. It is essential to seek legal representation as soon as possible to fight against these charges and protect your rights.
Consult With a Criminal Defense Attorney
Being charged with wire fraud is a serious criminal matter. But you do not have to face it alone.
At Dughi, Hewit & Domalewski, our New Jersey criminal defense attorneys develop a strategy for fighting wire fraud charges and associated crimes. Our attorneys are former government lawyers and prosecutors with decades of experience in criminal law. Contact us to speak with an attorney about your case.
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