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Wire Fraud

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Wire Fraud
A situation where a person concocts a scheme to defraud or obtain money based on false representation or promises.
    
This criminal act is done over using electronic communications or an interstate communications facility. It is a legal concept in the United States Code which provides for enhanced Penalty of any criminally fraudulent activity if it is determined that the activity involved electronic communications of any kind, at any phase of the event. As in the case of mail fraud, this statute is often used as a Basis for a separate federal prosecution of what would otherwise have been only a violation of a state law.
    
The essential elements of the crime of wire fraud are:
    
(1) Devise or intend to devise a scheme or artifice to defraud another person based on a material representation;

(2) With the intent to defraud;

(3) through the use of interstate wire facilities (e.g. telecommunications of any kind).
Posted by  Privatebanking.com
 
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