Law enforcement action is part of President Barack Obama’s Financial Fraud Enforcement Task Force. President Obama established the interagency Financial Fraud Enforcement Task Force to wage an aggressive, coordinated, and proactive effort to investigate and prosecute financial crimes. The task force includes representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and local law enforcement who, working together, bring to bear a powerful array of criminal and civil enforcement resources.
The task force is working to improve efforts across the federal executive branch, and with state and local partners, to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, combat discrimination in the lending and financial markets, and recover proceeds for victims of financial crimes.
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FBI Arrests Dallas Man on Wire Fraud and Mail Fraud Charges
Defendant Allegedly Defrauded 200 Victims of $1 Million in Advance Fee Scheme
Link to FBI report ~ http://dallas.fbi.gov/dojpressrel/pressrel10/dl090910a.htm
related to above case ~ also using the business name Capstone Commercial Group out of Ohio ~ http://iggyboo.com/3rdStreetScam.html
Wire fraud, in the United States Code, is any criminally fraudulent activity that has been determined to have involved electronic communications of any kind such as: internet forums, internet chat rooms, conference calls and any pre-recorded messages are all forms of electronic communications, at any phase of the event.
The involvement of electronic communications adds to the severity of the penalty, so that it is greater than the penalty for fraud that is otherwise identical except for the non-involvement of electronic communications. As in the case of mail fraud, the federal statute is often used as a basis for a separate, federal prosecution of what would otherwise have been a violation only of a state law.
The crime of wire fraud is codified at 18 U.S.C. § 1343, and reads as follows:
Whoever, having devised or intending to devise any scheme or artifice to defraud, or for obtaining money or property by means of false or fraudulent pretenses, representations, or promises, transmits or causes to be transmitted by means of wire, radio, or television communication in interstate or foreign commerce, any writings, signs, signals, pictures, or sounds for the purpose of executing such scheme or artifice, shall be fined under this title or imprisoned not more than 20 years, or both. If the violation affects a financial institution, such person shall be fined not more than $1,000,000 or imprisoned not more than 30 years, or both.
In the case of United States v. LaMacchia (1994; text of opinion), a student of the Massachusetts Institute of Technology was charged with wire fraud when, because he had not profitted personally from online distribution of millions of dollars' worth of illegally copied software, he could not be charged with criminal copyright infringement. The United States District Court, District of Massachusetts, dismissed the charges, noting they were an attempt to find a broad federal crime where the more narrowly defined one had not occurred. Congress then amended the copyright law to limit further use of this loophole.
According to Neder v. United States (527 U.S. 1, 23, decided in 1999), the alleged misrepresentation to support a conviction under 18 U.S.C. § 1343 must be a material misrepresentation; a misrepresentation that is capable of influencing, or has a "natural tendency" of influencing, a decision is material.
To commit wire fraud, one must (1) devise, or intend to devise, a scheme or artifice to defraud another person on the basis of a material representation, and (2) do it with the intent to defraud, and (3) do it through the use of interstate wire facilities (i.e. telecommunications of any kind).
http://en.wikipedia.org/wiki/Wire_fraud
Guilt by Association ~ http://articlesofinterest-kelley.blogspot.com/2010/12/guilt-by-association-3-cases.html
Types of fraud Financial Advance-fee (Lottery scam) • Bank • Bankruptcy • Cheque • Credit card • Forex • Friendly • Insurance • Mortgage • Securities • Tax • Wire Business relatedBilling • Cramming • Disability • Drug • Employment • Fixing • Identity theft • Intellectual property • Internet • Job • Odometer • Phone • Quackery • Return • Slamming • TelemarketingOther typesCharity • Confidence trick • Counterfeiting • Forgery • Hoax • Honest services • Identity theft • Mail
more cybercrime articles @ http://legendsintheirownminds.blogspot.com/
