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NYC Wire Transfer Schemes Lawyers
Wire Transfer Fraud: Penalties and Defenses
More than $600 trillion was moved via wire transfer in 2012 alone, and more than 130 million wire transfers occur annually. Although the majority of these transfers go through with no complications, some of these transactions are considered fraudulent by the U.S. government. Statistics show that as many as 60 percent of all fraud attempts throughout the U.S. are completed in the form of wire transfers.
Wire Transfer Fraud is Prohibited by Law
According to U.S. law, wire transfer fraud is a type of wire fraud. Under 18 U.S. Code Section 1343, wire fraud is defined as using television, radio or wire communications as part of an artifice or scheme to defraud. However, wire fraud laws apply to a number of situations, and “scheme” is often broadly interpreted. Two examples include:
Obtaining bank account information and wiring money without first obtaining the account owner’s permission is considered wire transfer fraud as well as prohibited bank transfer fraud. Someone may use hacking, phishing or a variety of offline and online methods to obtain someone’s bank account information and begin fraudulent wire transfers.
Using fake information or false pretenses to convince someone to send a wire transfer is one of the most common instances of wire fraud. The caller or writer will claim that an individual’s family member is in trouble and the victim must wire money immediately to provide assistance.
Since wire fraud typically involves an attempt to unlawfully recover money from a bank or financial institution using false promises, misrepresentations or false pretenses, you may also face bank fraud charges as outlined in 18 U.S. Code Section 1344. Depending on the methods the defendant used to initiate the wire transfer or the method by which he or she obtained bank account information, offenders may also face additional fraud offenses.
In Laughlin v. United States (2014), the Supreme Court clarified that an individual does not necessarily need to attempt to defraud a bank in order to be charged. As long as your wire transfer scam would naturally result in the distribution of false information to a bank or one of your objectives of your wire transfer scheme involved recovering money held by a bank, you can face bank or wire fraud charges.
If you are looking for a lawyer that listens, is aggressive where needed, and holds his word above all else, Todd is the best pick. I had hired multiple attorneys prior to hiring the Spodek Group for a white collar case. The first thing that stood out to me was the cost, as anyone going through the process and dealing with the system, money was tight at that time - especially after hiring and firing multiple lawyers. The cost was not as high as others which was definitely a plus. Todd's intake process was also unlike other attorneys. He took the time to actually listen. He cared. He was trying to put himself in my shoes while I was explaining the situation to him and he really took the time to understand the whole situation. Other lawyers will give you 15 mins and send you a retainer agreement. Not Todd, I think he spent almost two hours with me as I was explaining everything.Not only was he great during the onboarding process, he was supportive and very informative through the entire plea process and eventually sentencing. After hiring him, I asked if I should hire a prison consultant, he told me to save my money as he would do everything they would. He was right and held up to his word. Later on I would hear from others that went with the prison consultants that they were a waste of money - I am glad I listened to Todd!When it came time for sentencing, two days prior to sentencing, the prosecutor tried increasing my proposed prison time by almost double - apparently a normal move. Todd and his team worked with me non-stop through the weekend prior to sentencing to ensure that I was not given additional prison time. Again, he took the time to listen and came up with a strategy to explain the case with great detail.Unfortunately, I did plead guilty as that was my best option. Todd and his whole team wrote up nearly 300 pages of a summary of what happened and why I should not be given prison time. If I breakdown the amount I spent with Todd versus the amount of work that I saw being done, I am shocked I was not charged four times as much. The other benefit was, a lot of criminal defense lawyers were just a single attorney with a paralegal or two. Todd had a team of people that I dealt with (5-7 people that I interacted with), but he was ALWAYS accessible. It would never take him more than an hour to reply unless he was in court.I was sentenced to prison and I was emotionally distraught. Todd and his team did whatever they could even after sentencing to make sure I was alright. He personally stayed in touch with my family to ensure I was doing alright and offered support to them. Most lawyers would consider the job complete at sentencing, not Todd.After prison, Todd still spent time with me to make sure I was on the right track and avoiding any potential risks in the future. He has also been giving advice on how to navigate probation etc and has not been looking at the clock for billing.Although I wish I had never been arrested in the first place, I am glad I had Todd and his team in my corner. Without them I likely would have had to spend a lot more time in prison than I did.Thank you, Todd, and the entire Spodek Law team, for helping turn what was a nightmare into a manageable situation!
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I don’t know where to start, I can write a novel about this firm, but one thing I will say is that having my best interest was their main priority since the beginning of my case which was back in Winter 2019. Miss Claire Banks, one of the best Attorneys in the firm represented me very well and was very professional, respectful, and truthful. Not once did she leave me in the dark, in fact she presented all options and routes that could possibly be considered for my case and she reinsured me that no matter what I decided to do, her and the team will have my back and that’s exactly what happened. Not only will I be liberated from this case, also, I will enjoy my freedom and continue to be a mother to my first born son and will have no restrictions with accomplishing my goals in life. Now that’s what I call victory!! I thank the Lord, My mother, Claire, and the Spodek team for standing by me and fighting with me. Words can’t describe how grateful I am to have the opportunity to work with this team. I’m very satisfied, very pleased with their performance, their hard work, and their diligence.Thank you team!
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How to Avoid Conviction When Charged with Wire Transfer Fraud
Depending on the circumstances and specifics of the alleged wire scam, wire fraud and bank fraud can both result in up to 30 years of jail time if the offender is found guilty of defrauding a bank or financial institution. For this reason, it is important for you and your legal team to develop a solid strategy for responding to charges. Your New York wire fraud lawyer will be able to guide you through the process in an attempt to minimize the severe penalties you face or to lessen the likelihood of conviction. Possible wire transfer fraud defenses may include:
Good faith: If you truly believe that the statements to begin the wire transfer were true, you were not part of a scheme to defraud a financial institution. However, if you knew beforehand that the statements were false or inaccurate, you may not legally or wilfully blind yourself to the truth.
Insufficient evidence: If the prosecution is unable to procure evidence that the wire transfers or other types of methods were used as part of a scam, you may not be held responsible for the alleged scheme.
Get Help from a Wire Transfer Fraud Attorney Today
A New York wire transfer fraud lawyer can work with you to determine possible defenses for your specific situation. Your legal team may also assist you in negotiating a plea bargain. Depending on your case, you may be eligible to limit the penalties of conviction if you admit to your role in the wire transfer scam and the case settles outside of the courtroom or even reduce your charges the charges. For more information about your rights or to speak with a member of our team about your case, contact Spodek Law Group, PC today
