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Definition of ‘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 using electronic communications or an interstate communications facility. |
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Investopedia explains ‘Wire Fraud’Like any type of fraud, wire fraud is a federal offense. A person can be found guilty for their misuse of a communication facility, regardless of whether their scheme actually defrauded anyone. |
What Is Wire Fraud?
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