Wire fraud refers to the use of various kinds of telecommunications equipment to carry out a fraudulent scheme. Some fraud is rather sophisticated and involves millions of dollars.
A recent court case illustrates that wire fraud is a charge you cannot take lightly.
Wire fraud explained
As defined in part under federal law 18 USC 1343, an act that falls into the category of mail or wire fraud employs the use of transmission “by means of wire, radio, or television communication.” Transmission includes writings, signs, signals, pictures or sounds “for the purpose of executing such scheme or artifice.” Penalties include heavy fines up to $1 million and prison time of up to 30 years.
About the case
Wire fraud is a federal crime, and a Missouri man recently found out how serious discovery can be. In August 2019, this resident of Cape Girardeau appeared in court and entered a guilty plea for both wire fraud and gun charges. In 2016, the man, who is now 40 years old, implemented a scheme that caused payment for Stone Mountain Carpet Outlet products to go directly to him. That company sustained a loss of $2,336,490, and PayPal, the company used to transmit the payments, suffered a loss of $48,643. Additionally, while under indictment, the man answered a Craigslist ad soliciting money or a controlled substance in exchange for sex. An undercover officer placed the ad. When the two met at a Walmart, the officer arrested the man, who was carrying a concealed 9mm handgun, hence the gun charges.
An investigation for fraud is usually a complex endeavor that may take months or even years to complete. As soon as you become aware that you are the subject of an investigation for possible wire fraud, explore your legal options without delay. An aggressive criminal defense ensures that you can expect the best outcome possible for your case.