What Are the Penalties for Wire Fraud Under Federal Law?
Wire fraud is one of the most commonly charged federal crimes in the U.S. It is a white collar crime defined in 18 U.S.C. § 1343, which makes it illegal to use any form of "wire, radio, or television" to perpetrate fraud. The severe potential penalties – up to $1 million in fines and 30 years in prison – make defending against a wire fraud charge an urgent matter.
Wire Fraud Defined
Wire fraud is defined as using any form of electronic or wired communication to commit a fraud. "Fraud" here means to take someone else's property through deceptive means. If you used the internet, a phone, a radio, or any wire communication to facilitate the scheme, that is wire fraud. Whether you achieved the outcome is irrelevant – even an unsuccessful attempt can trigger a wire fraud charge.
