What is Fraud in Business?Most people think they know what fraud is, but in the legal community, fraud has a specific definition with specific elements, depending on the type of fraud perpetrated. Although there are people who practice deception in business contexts daily, it’s not usually enough to constitute legal fraud. You must also demonstrate malicious intent and damage to the business as a result of the deception.
Consequences of FraudWhen fraud does occur, however, it can be devastating to a company or individual. In fact, the financial damage that this type of fraud can cause a company or individual can be so crippling that many businesses never fully recover. Some fail as a result of fraud and its impact.
Effective business litigation lawyers can help mitigate the negative effects of corporate fraud as well as fraud complaints. Our experienced business attorneys can help the victims of fraud recover protect their interests.
Types of Fraud
There are many different types of fraud that can occur in business contexts. Some of these include:
- Insurance fraud
- Payroll fraud
- Insider trading
- Benefits fraud
- Real estate fraud
Fraud Via Non-DisclosureOne of the most dangerous types of corporate fraud is fraud via non-disclosure. Fraud via non-disclosure is a type of fraud that involves misrepresenting oneself or one’s intentions for deceptive purposes. In business transactions, an individual or corporation may hide information or provide false information to unfairly influence other parties or manipulate the situation for his or her advantage.
How Business Lawyers Can Help In the Case of Fraud/Non-DisclosureIn corporate fraud cases, experienced business litigation attorneys are a must. To prosecute these cases successfully, these business lawyers must investigate the case, identify the proper evidence, and present the facts of the case clearly. The experienced legal staff at Ensberg Law Group have handled numerous fraud cases, including those that involve fraudulent non-disclosure and business litigation. It would be our pleasure to help you and your business resolve any disputes you may be dealing with, including corporate fraud cases.
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