Frauds, Scams and More
Fraud is deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage.
Fraud According to the Law
The Legal Definition of Fraud
The legal definition of fraud is a false representation of a matter of fact-whether by words or by conduct, by false or misleading allegations, or by concealment of what should have been disclosed-that deceives and is intended to deceive another so that the individual will act upon it to her or his legal injury.
Spectrum of Fraud
Different Types of Fraud
There numerous different types of fraud. This includes a bait and switch, bankruptcy fraud, benefit fraud (e.g. committing fraud to get government benefits), defective products, counterfeiting of currency, documents or valuable goods, charlatanism, confidence tricks (such as the 419 fraud and Spanish Prisoner), creation of false companies (or "long firms"), recalls, embezzlement (taking money which one has been entrusted with on behalf of another party), false advertising, false billing, false insurance claims, forgery of documents or signatures, franchise fraud (where the real profit is earned, not by the sale of the product, but by the sale of new franchise licenses), fraud upon the court, health fraud (e.g. selling of products known not to be effective, such as quack medicines), identity theft, nsurance fraud, investment frauds (e.g. Ponzi schemes and Pyramid schemes), moving scam, religious fraud, marriage fraud (to obtain immigration rights without entitlement), rigged gambling, securities frauds, tax fraud and more.
Elements of Fraud
What Makes Fraud, Fraud
Common law fraud has nine elements: a representation of an existing fact; its materiality; its falsity; the speaker's knowledge of its falsity; the speaker's intent that it shall be acted upon by the plaintiff; plaintiff's ignorance of its falsity; plaintiff's reliance on the truth of the representation; plaintiff's right to rely upon it; and consequent damages suffered by plaintiff. Most jurisdictions in the United States require that each element be pled with particularity and be proved with clear, cogent, and convincing evidence to establish a claim of fraud. With this said, you should consult a lawyer within your jurisdiction, or Contact Us, to confirm this.
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