The Broad Category of Fraud
Have you experienced or been accused of fraud? Many attorneys understand the concept of fraud, but which Conroe lawyer will work with you for success against fighting fraud?
Fraud is a large category of crimes and carries severe penalties in Montgomery County. Not only does a fraud conviction garner steep legal penalties, but it also carries significant negative social stigmas. Fraud can affect something as small as a friendship or as big as a group of businesses. Furthermore, the consequences that follow fraud can last a lifetime.
What is Fraud?
According to U.S. Legal’s online dictionary:
Fraud is…an intentional misrepresentation of material existing fact made by one person to another with knowledge of its falsity and for the purpose of inducing the other person to act, and upon which the other person relies with resulting injury or damage. Fraud [also can occur in the context of] an omission or purposeful failure to state material facts, which nondisclosure makes other statements misleading.
In short, fraud happens when one person misleads or withholding information from another. That misleading or withholding results in personal or financial enrichment of the one at the expense of the other.
Ultimately, the root of all fraud is some form of deception.
Some Common Types of Fraud In Texas
- Adoption Fraud: Providing false or misleading information in an adoption processes.
- Consumer Fraud: Deception that results in financial enrichment at the expense of consumers.
- Money Laundering: hiding the origin of illegally-obtained money. Transferring that money through legally-established businesses is one way of hiding the true source of that money.
- Identity Theft: Using the identifying information of another to obtain the financial benefit for yourself.
- Insurance Fraud: Presenting false circumstances to an insurance company in order to obtain coverage they would not otherwise provide.
- Tax Fraud: Falsifying records to tax authorities in order to avoid paying the full amount owed.
While the above list shows common types in Texas, these are not the limits of fraud. Fraud can also affect marriages, child support, child custody, and business negotiations.
If you are a victim of fraud, you should seek an experienced Conroe lawyer to help you through the process. Contact the Conroe Law Office for your free initial consultation.