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Federal fraud charges could result in major consequences. This is certainly the case for wire fraud charges.

For one, a conviction of this federal offense can lead to a major prison sentence. The general maximum prison sentence for wire fraud is 20 years. However, it can be even higher under certain circumstances. For example, when wire fraud affects a financial institution, the maximum sentence rises to 30 years.

A person can also receive big fines for this type of fraud. For example, individuals convicted of wire fraud impacting a financial institution can be fined up to $1 million.

What is this federal white collar crime? As FindLaw notes, wire fraud is made up of multiple elements. These are the things prosecutors typically need to show in order to secure a conviction. We will now go over the general elements of wire fraud.

Fraud

A person needs to have been involved in a scheme aimed at defrauding others.

Intent

A person has to have intended to commit fraud.

Use of interstate wire communications

A person must have used interstate wire communications in connection to the scheme. This can include things such as the telephone, radio, television, fax machines and the internet. Also, the use of such communications generally must have been a reasonably foreseeable aspect of the scheme.

There are various kinds of evidence prosecutors may bring to try to prove these elements. Prosecution evidence in wire fraud cases varies greatly in its strength and potential grounds for challenges. So, what defense routes might be best for wire fraud suspects heavily depends on the situation. Skilled white collar crime defense attorneys can analyze the various aspects of wire fraud cases, including the evidence presented, and help suspects with developing a defense strategy well-suited to the circumstances.