Wire fraud, as defined in 18 U.S.C., Section 1343, is any plan or scheme to defraud or otherwise obtain money under false pretenses or fraudulent means. Such fraud becomes “Wire Fraud” when the criminal defendant directly or indirectly makes use of television, radio or “the wires” including the internet in the furtherance of his or her criminal fraud scheme. The definition of the wires has been widely interpreted to include almost any media transmission.
Wire Fraud Penalties
Wire fraud can carry fines up to $1,000,000 and a thirty year prison term. One important factor in the sentence for wire fraud is whether the alleged criminal activity affected a financial institution. What is deemed to “affect” a financial institution is open for interpretation by the court.
Mail fraud refers to a fraudulent scheme to obtain money or other valuables through use of the US Postal Service. Mail Fraud is defined in Chapter 63 of Title 18 of the U.S. Code. As is the case with wire fraud, mail fraud charges are often brought by federal authorities in conjunction with other charges, such as money laundering, insurance fraud, bank fraud or other white collar crimes.
Mail Fraud Penalties
Depending on the size and nature of the offense(s), an individual charged with mail fraud can face imprisonment for up to 20 years and/or hefty fines. If the alleged fraud involves a financial institution, the length of imprisonment can increase to 30 years and the fines to $1,000,000.
We Can Help
If you find yourself facing federal wire fraud or mail fraud charges, Contact The Blanch Law Firm today for a complimentary case review!