We've all the term "wire fraud," but the charge is often confused with theft. Wire fraud and mail fraud refer to the methods of carrying out a theft. These cases often involve allegations of improper use of credit cards or digital transactions over the internet.

Wire fraud cases are often prosecuted in the federal courts, where a conviction can mean a harsh sentence. A 41-year-old Pennsylvania woman who has just been found guilty of wire fraud and money laundering will soon find out the severity of her sentence.

She was found guilty last week in federal court on four counts of wire fraud and four counts of money laundering. She faces up to 20 years in prison and a fine of $500,000 on each count.

Federal prosecutors said the woman now lives in Texas. She was a licensed Pennsylvania real estate agent until she surrendered her license five years ago rather than face disciplinary actions.

She then opened a real estate-related business in East Berlin, near Harrisburg. The U.S. Attorney claims the woman began contacting homeowners who faced foreclosures, telling them they could avoid foreclosure by selling their property to her or her investors.

She allegedly told homeowners that their houses would be leased back to them. The sale would allow them to pay off debts, rebuild credit and buy their homes back with a new mortgage after a year.

Prosecutors claim she also told homeowners that any equity in their homes would be held in escrow and would be used to help them refinance the buy-back of their homes.

According to the prosecutors, no homeowner was ever able to buy back their home and no equity funds went into escrow. The defendant pocketed the proceeds, totaling about $2.3 million, prosecutors said.

Source: ABC News, "Former real estate agent convicted of money laundering, wire fraud," Nov. 7, 2011