Oh My Fraud

The (Mostly) Complete History of Wire Fraud

Oct 11, 2023

Explore the history of wire fraud, including its connection to the invention of the telegraph. Learn about scams and close calls, the elements of mail and wire fraud, and the infamous investment scam of Reverend Jim Baker. Discover the link between wire fraud and televangelism, and compare wire fraud charges to a useful tool. Plus, don't miss the promotion of the podcast and a sponsor for CPE credits.

58:13

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Quick takeaways

The prank orchestrated by P.T. Barnum in 1850 involving fake telegraph messages marked a significant moment in the origin story of wire fraud.

Wire fraud is a widely applicable and easily proven statute that provides prosecutors with a powerful tool to combat various types of fraud.

Numerous convictions in cases involving wire fraud, such as Nathan Mueller, Sandy Jenkins, Reita Crundwell, and Sister Mary Margaret, demonstrate the broad applicability and effectiveness of the wire fraud statute.

Deep dives

P.T. Barnum's Prank: The Origin Story of Wire Fraud

P.T. Barnum orchestrated a prank in 1850 by sending fake telegraph messages to his cast and crew. Although this prank was not technically wire fraud, it involved using telegraph paraphernalia and lying. The incident marked a significant moment in the origin story of wire fraud.

Introduction

2min

Scams and Close Calls

7min

The History of Mail Fraud and the Invention of Wire Fraud

7min

The Elements of Mail Fraud and Wire Fraud & Soapy Smith's Telegraph Scam

5min

The History of Wire Fraud and its Modern Applications

9min

The Investment Scam of Reverend Jim Baker

2min

Wire Fraud and Televangelism

23min

The Comparison of a Tool and Wire Fraud Statute

3min

Sponsors

Murder, kidnapping, dismemberment—these are the crimes of many a true crime podcast; just not this true crime podcast. In this episode, Caleb and Greg explore wire fraud, its history, and why it comes up in nearly every case study they discuss.

HOW TO EARN FREE CPE

In less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at ohmyfraud@earmarkcpe.com

Sources:

The History Of Wire Fraud — LAWS.com

Wire Fraud: Definition, examples, and prevention. — Datavisor

Mail and wire fraud — Wikipedia

U.S. postal system established | July 26, 1775 — History.com

Telegraph | Invention, History, & Facts — Britannica