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.
BREAKING DOWN '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.