Fraud is a financial crime that can happen in many different forms. With the variety of ways people communicate electronically, fraudsters may use any of these methods to get in touch with a person or organization in Kentucky, win their confidence, and then steal money or other assets that they own. One of these schemes is known as wire fraud.
The U.S. Justice Department provides some background on wire fraud. This crime is committed in much the same way as mail fraud, except wire fraud requires the use of a telephone or some sort of electronic communication. A common example of electronic communication is the use of the internet. Millions of people use online transmission daily, not just to transmit messages, but to send and receive money.
For wire fraud to occur, an individual must actively engage in a scheme to steal money or property from another party through the use of interstate wiring. The scheme must utilize deception, such as omitting information or misrepresentation of facts, to ensnare victims. The scheme must successfully deprive a party of money, service or property, or at least have the potential to do so.
A recent fraud case shows how much money can be stolen through wire fraud. WDRB out of Louisville reported in February 2018 that a couple from the city pleaded guilty to a wire fraud scheme that took place between the years 2005 and 2011. The couple defrauded the Iceland Sports Complex out of $550,000 during this time period while they were employed at the facility, taking the money for personal usages.
The husband and wife received various sentences. The husband of the pair received a two year prison sentence while his wife was sentenced to confinement at her home for eight months. Each spouse will receive three years of supervised release after their confinements have expired. This outcome is more lenient than other perpetrators may receive, though. Wire fraud sentences can go up to 20 years if a person is convicted.