The maximum sentence for a crime is defined by statute, rather than being some special threat by prosecutors. For wire fraud it's 20 years, even if your fraudulent scheme was designed to enrich you by only $1. Sentencing is determined by the court after conviction; it's unlikely that he would have been sentenced to more than a couple of years.

This thing of focusing on the maximum possible sentence is a bad habit inculcated by the media. It's more instructive to look at the median sentence for this kind of crime.