A federal wire fraud investigation can threaten your freedom, business, and professional reputation. Fast Law represents individuals and businesses under investigation or facing wire fraud charges in the Southern and Eastern Districts of New York and other federal courts.
Led by former prosecutor Elena Fast, our team examines financial transactions, digital communications, business records, and witness accounts to test the government’s allegations and identify potential defenses. We represent clients from the investigation stage through trial, sentencing, and appeal.
Request a confidential consultation with Fast Law.
Understanding Federal Wire Fraud Charges
Wire fraud is prosecuted under 18 U.S.C. §1343. In a typical prosecution involving money or property, the government must prove beyond a reasonable doubt:
- A scheme to obtain money or property through material false statements, promises, or fraudulent concealment;
- The defendant’s knowing participation in the scheme with intent to defraud; and
- The use, or caused use, of wire communications in interstate or foreign commerce to further the scheme.
A wire communication can be truthful and still further the alleged fraudulent scheme. The prosecution must establish the required connection between the communication and the scheme.
Wire communications may include emails, telephone calls, text messages, and bank transfers. A misrepresentation is material if it is capable of influencing a relevant decision.
Penalties for Federal Wire Fraud
A wire fraud conviction ordinarily carries a statutory maximum of 20 years in prison per count. If the offense affects a financial institution or involves qualifying benefits connected to a presidentially declared major disaster or emergency, the maximum increases to 30 years, with a statutory fine of up to $1 million.
For ordinary wire fraud offenses, federal law generally permits fines of up to $250,000 for individuals and $500,000 for organizations. Depending on the circumstances, an alternative fine based on the greater of twice the gross gain or twice the gross loss may exceed the otherwise applicable fine limits.
A conviction may also result in restitution, forfeiture, and supervised release following imprisonment. Restitution compensates victims for qualifying losses and is separate from a criminal fine.
The sentence imposed depends on the advisory Federal Sentencing Guidelines, applicable sentencing law, and the circumstances of the individual case.
Defenses Against Wire Fraud Charges
Defending a wire fraud case requires testing the government’s evidence against each element of the charge. Depending on the facts, potential defenses may involve:
- Good faith or lack of fraudulent intent;
- Alleged misrepresentations that were not material;
- Insufficient evidence of knowing participation in the scheme;
- Insufficient proof of a qualifying interstate or foreign wire communication; or
- Communications that did not further the alleged scheme.
We examine contemporaneous records, financial transactions, communications, and witness accounts to assess what the client knew and intended. We also evaluate potential challenges to searches, the indictment, and the timeliness of the prosecution.
Can There Be Wire Fraud Without a Financial Loss
The absence of a net financial loss does not, by itself, defeat a wire fraud charge. Providing goods or services of value does not automatically establish a defense. The government must still prove the required elements, including material deception and fraudulent intent.
How Fast Law Can Help
If federal agents have contacted you, you have received a subpoena or target letter, or you are facing wire fraud charges, Fast Law can evaluate the allegations, address immediate concerns, and develop a defense grounded in the evidence.
Early intervention is critical. We can help gather evidence, speak with witnesses, and manage negotiations with federal prosecutors.
Learn more about our general federal criminal defense services.
Request a confidential consultation to discuss your matter and the appropriate next steps.