Wire fraud involves using the internet and electronic communications. Phones, computers and other electronic devices all qualify for this crime.
Since someone can try you for this crime, you need to know what it is before you start scheming.
What it is
Chances are, you have heard of traditional wire fraud that involves hundreds of phone calls going out to gullible retirees. However, while the phone is still used, criminals now use the internet for wire fraud, including emails, social media messages and more. Often, these will provide a convincing story and ask for money or financial information. The goal of wire fraud is to get financial information from people.
How the charges work
Individuals can report fraud crimes to the state, which will charge them if they are guilty of scheming or enacting a plan to defraud someone of their money—wire fraud results in federal charges with up to 20 years in prison and $250,000 in fines. Realistically, you will probably receive a minimum of 5 to 10 years in prison. However, circumstances can leave you with up to a $1,000,000 fine and 30 years in prison.
You do not have to commit wire fraud for officials to charge you with this crime. However, if they can prove that you intended to commit this crime, it is sufficient to try you.
Wire fraud is a serious crime. If you are considering committing this crime, you should think carefully. You will face stiff consequences if you execute this crime and officials catch you. That will leave you facing trial and needing support.
