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Both offenses carry a wire fraud penalty of up to 20 years in prison. In reality, the sentences in wire fraud cases are determined by a close analysis of the facts of the case, and the background and character of the person that is before the court for sentencing.
A single act of wire fraud can result in fines and up to 20 years in prison. However, if the wire fraud scheme affects a financial institution or is connected to a presidentially declared disaster or emergency, the potential penalties are fines of up to $1,000,000 and up to 30 years in prison.
The federal wire fraud statute imposes substantial fines and prison time in a wide range of circumstances. Learn more from the federal white-collar defense lawyers at Oberheiden P.C.
The penalties for wire fraud include a prison sentence of up to 20 years (30 years if the case involves federal disaster relief funds or a financial institution), restitution to any victims and a fine set by the judge.
Under federal statute, even acts of “non-aggravated” wire fraud can carry a prison sentence up to twenty years as well as a fine. Aggravated acts of wire fraud that impact financial institutions or have connections with federally declared emergencies have separate minimum penalties.
The punishment for wire fraud can vary greatly, with some individuals receiving no jail time, even as others receive sentences of multiple years in prison. To help ensure the best outcome possible, it is advisable to consult a lawyer with experience in SEC regulations.
Jail or Prison Time for Fraud Convictions Fraud convictions bring with them the serious possibility of a jail or prison sentence. Though sentences differ widely, a misdemeanor conviction can lead to up to a year in a local jail, while a felony conviction can lead to multiple years in prison.
If you are charged with federal mail or wire fraud, you may face a lengthy prison sentence and huge fines. Learn what it means to be charged with these crimes. Call: 703-352-0100
Wire fraud crimes refer broadly to any fraudulent or deceitful scheme to secure money or property, committed or aided through the use of interstate wires. Learn more about this topic and others at FindLaw's section on Criminal Charges.
Wire fraud is a federal crime, and a conviction is very serious. You could spend up to 20 years in federal prison and owe $250,000 if you're found guilty of wire fraud.