What You Need to Know About Federal Wire Fraud

 Posted on June 15,2023 in Federal Crimes

Federal wire fraud is one of the more severe white-collar offenses in the United States. The offense typically involves using electronic communications like email or telephone to deceive others for financial gain. It can include an individual scheming or manipulating electronic funds with false or incomplete information as part of a fraudulent scheme. An individual could face substantial fines and jail time if convicted of federal wire fraud.

If you have been charged with wire fraud, you need to understand the severity of the situation you are currently in. Do not hesitate to contact an experienced attorney to ensure your rights are protected and that you can have a fair chance at adequately defending yourself against these charges.

Dissecting Federal Wire Fraud Charges

Firstly, federal wire fraud is a fairly common crime, especially in the modern-day, where the financial sector relies heavily on electronic communications. Federal wire fraud laws broadly cover any scheme to defraud that involves interstate or international wire communications. This includes any type of fraudulent activity involving electronic communications, such as email or phone calls, to deceive others for financial gain. The critical element of wire fraud is using electronic communications to execute the fraud.

To prove a federal wire fraud charge, prosecutors must establish several legal elements. First, they must show that the defendant knowingly and intentionally participated in a scheme to defraud. Second, they must demonstrate that the scheme involved the use of interstate or foreign wire communications. Finally, they must establish that the defendant acted with the intent to defraud.

Wire fraud is a grave offense that carries severe legal consequences. A conviction on such charges can result in steep fines, prison time, and other penalties. The punishment's severity depends on the offense's nature, the amount of money involved, and the defendant's criminal history.

It is not uncommon for wire fraud to be associated with other offenses, such as identity theft and bank fraud. When additional offenses are lumped in with wire fraud, the penalties for a conviction can be increased substantially.

Contact a Chicago, IL Federal Wire Fraud Attorney

If you are facing charges of federal wire fraud, seek the counsel of a skilled criminal defense lawyer. An experienced lawyer can help you understand precisely what you are up against. For more information on how you can fight these charges, contact a Chicago, Illinois federal wire fraud lawyer with Law Offices of Hal M. Garfinkel LLC, Chicago Criminal Defense Attorney. Call 312-629-0669 for a free consultation.

Source - https://www.justice.gov/archives/jm/criminal-resource-manual-941-18-usc-1343-elements-wire-fraud